Divi's Laboratories Limited : Strong bullish trend
Entry price | Target | Stop-loss | Potential |
---|
₹1,094.05 |
₹0 |
₹980 |
-100% |
---|
Divi's Laboratories manufactures pharmaceutical products which include generic drugs and their intermediates. The Company also undertakes contract research activities for other pharmaceutical companies.
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year. The great business predictability emphasizes the quality of this investment in the mid-term.
Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped until prices are above the INR 1013.7 short term support.
Thanks to these good indicators, it seems relevant to take a long position in Divi's Laboratories Limited at the current price. The target price is the INR 1194.13 resistance. A stop loss will be fixed under the INR 1013.7 short term support because a breakdown of this level would damage technical pattern.
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