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Buy Divis Laboratories, target Rs 1490

Traders can buy the stock around current levels and further add on dips around Rs 1340-1345 with a stop loss below Rs 1300 for the target of Rs 1490.

 

On the daily scale, Divis Laboratories has given a breakout from its Flag pattern above Rs 1330-1332 levels on Monday with higher volumes. The Relative strength index (RSI) is showing positive momentum and MACD is trading above zero line with a positive crossover which indicates limited downside for the stock.
Based on the above observations traders can buy the stock around current levels and further add on dips around Rs 1340-1345 with a stop loss below Rs 1300 (closing) for the target of Rs 1490.
MORE WILL UPDATE SOON!!
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