Bullish View Analysis for Divi’s Laboratories

Bullish View Analysis for Divi’s Laboratories:

1. Trigger Level:

A breakout above ₹5,950 will act as the signal for a bullish entry.

This level aligns with the 20 EMA, suggesting that buyers are regaining momentum.



2. Reasoning:

The price is currently in a consolidation phase within a range.

A breakout above ₹5,950 would indicate buyers are overcoming resistance, potentially driving the price towards higher levels.



3. Stop Loss:

Place your stop loss below ₹5,880 to manage risk.

This ensures that if the breakout fails, your losses are minimal.



4. Targets:

Target 1: ₹6,050 (the first resistance zone).

Target 2: ₹6,200 (the upper end of the range).



5. Supporting Indicators:

RSI (Relative Strength Index): Currently near 54, suggesting momentum is picking up but not yet overbought. A move above 60 would confirm bullish strength.

Volume: Look for an increase in volume during the breakout to validate the buying pressure.



6. Key Levels to Watch:

₹5,950: Breakout level.

₹5,880: Support zone for stop loss.

₹6,050 and ₹6,200: Profit booking zones.




Pro Tip:

Wait for a 4H or daily candle close above ₹5,950 before entering to avoid false breakouts.

Confirm with increasing volume and RSI moving higher for added confidence in the bullish move.