Divis Laboratories Share: There is a bullish atmosphere in the shares of Divis Laboratories, a company in the pharmaceutical sector. The stock is up nearly 33 per cent from its fifty-two week low and has further signs of upside. Experts believe that this stock can go up to 3950 in the coming days. On 14 March 2023, shares of Divis Labs hit a fifty-two week low. 2730 and closed at 3584 on 27th June. Today this stock has closed at 3586.
Divis Labs hit a 52-week high of Rs. 3973. From January 2023 till now, this share has increased by only 6 percent. But the best performance has been seen since the end of March. The stock was at its fifty two week high on August 10, 2022. But its all time high was recorded on 18 October 2021 when its price became 5425.
Experts believe that short term traders can consider Divis Labs shares as the stock is likely to move towards 3950 levels in three to four weeks. The stock takes support near 3000 level which is the breakout zone for it.
Even in the post-Covid period, Divis Laboratories was one of the best performing stocks in the pharma sector. Before Kovid this stock was running at 550 but after Kovid it reached 5425. That is, the capital of the investors had increased more than 10 times. Once the level of 5425 was made, there was a correction of about 49 percent in this stock and in March 2023, the shares of Divis Labs made a double bottom of 2750 and 2730.
Looking at the current chart pattern of Divis Labs, it seems that if this stock sustains 3290 levels then this stock can easily move towards 3950 levels. Especially the view of the last three months is spectacular. Kiran Jani, head of technical research at Jainum Broking, said that the bullish pattern will continue in this stock. The daily Relative Strength Index for the shares of Divis Laboratories is 59.6. An RSI below 30 is considered oversold and above 70 is considered overbought. Divi’s Lab stock moved above 5, 10, 20, 30, 50 and 100 days DMA.
