Sell Divi’s Lab May Future @ Rs 1,634
Stop loss: Rs 1,660
Target: Rs 1,595
- Short build up is seen in the Divi’s Lab Futures’, where we have seen rise in Open Interest with price falling by 3 per cent.
- The stock has broken down on the daily chart, to close at its lowest level since February 26, on the daily charts with higher volumes
- It is trading below its 5 and 20 day-SMA (simple moving average) indicating the stock is in downtrend for the short term.
- Oscillators and momentum indicators like relative strength index (RSI) and moving average convergence divergence (MACD) are indicating weakness in the stock.