DIVI S LABORATORIES LTD

Long

DIVI'S LABORATORY DESCENDING WEDGE BREAKOUT - BULLISH

Updated

DESENDING WEDGE BREAKOUT -

Divi's laboratory has recently broken out of a Descending Wedge pattern with confirmation on weekly chart indicating strong upside pressure
50D & 200D SMA ACTING AS STRONG SUPPORT -

Price has recently reversed from these 2 sma on weekly chart simultaneously indicating strong upward momentum
REVERSAL FROM STRONG SUPPORT-RESISTANCE ZONE -

Price has reversed from one such zone a few months back after a long consolidation indicating upside pressure
ENTRY & EXIT LEVELS -

TAKE PROFIT (TP) - 4318
STOP LOSS - 2711

Trade closed manually

Price is close to the level where prediction was made, momentum is now lost & overall market has turned bearish hence exit the position

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