Divislab has been an out performer in the pharma index and has continued to move higher even during range bound market. Despite pessimism prevailing in pharma stocks during the month of November 2018, we recommended this stock in our Diwali pick and we knew this stock would do well.
We were able to capture the up move with the help of Elliott wave, Time cycles and other indicators. See yourself
Below is the chart showing detailed analysis published in our research report –“The Financial Waves Update”
DivisLab weekly chart- (Anticipated as on 07th November 2018)
DivisLab daily chart- (Happened so far as on 24th April 2019)
(Below is an extract of the research published in our Monthly report)
Buy Price – 1483 and more on dips to 1300
Target Price – 2000 or higher
Holding period – 1 to 2 years
Stop level – 1020
Anticipated as on 07th November 2018- Pharma sector has been the outperforming sector in the current fall and we have seen out performance in stocks like Sun pharma and Auropharma. Divis Lab is yet another stock from the Pharma space wherein we can expect decent returns over a span of one to two year.
As shown on the weekly chart, prices probably completed primary degree wave (2) and started wave (3) on upside. If this is correct that we can see very strong rise over the years. Just in case the up move is only wave x we can still expect it to head towards 2000 on conservative basis. Time cycle of 148 weeks is working very well and the same has bottomed out.
In short, one can accumulate this stock at current levels of 1483 and more on dips to 1300 for the conservative target of 2000 with 1020 as important support.
Happened so far as on 24th April 2019- The stock has been moving precisely as expected and formed it’s all time high near 1775 levels on 26th March; post which it has continued to trade near the same zone. It also formed an intraday high near 1745 levels in today’s session.
The above clearly shows the power of Elliott Wave, and other indicators, if applied wisely it will assist in timing the market. Imagine if you are able to capture every turn after a fall or rise based on the mentioned techniques. This is not new to us as we have a proven track record to capture major reversals.
To know more about our next pick and to ride the trend in outperforming stocks you can get access to our report named “The Financial Waves Momentum Update”- Get access now
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