MEDIUM TERM TECHNICAL
CALL 20/04/2012
Divis Lab
|
835
|
VIEW
|
BULLISH
|
REMARK
|
Pattern breakout with good Volumes
|
TARGETS
|
1250-1500
|
SUPPORTS
|
(800)-780-(765-740)
|
STOP LOSS
|
Two
consecutive Close below 740.
|
COMMENTARY
The stock made a top around 965, in Jan 2008,
followed by a corrective till 382 in March 2009.
It rallied to 798 thereafter in July 2010.
A Higher bottom followed at 582 and the stock crossed
the intermediate high of 798 in July 2011 followed by a correction and consolidation
phase.
Recently the stock has given a pattern breakout
with sufficient volumes, making a new high of 856.
Basically the stock has opened for bullish up move
.Possible levels are 1250-1500.
Supports are at (800)-780-(765-740).
Two consecutive closes below 740 negates the above view. The
Indicators are in positive mode.
The stock is crossed its 200 DMA in March 2012
backed by huge volumes and steep rise, which suggest an informed buying in the
stock.
At present the stock is trading in overbought
territory and should be accumulated on declines.
The Trend Indicator is in Positive Mode. A move
backed by fast momentum can be expected in coming days.
Certainly a stock to watch for decent returns in
2012.
