DivisLab Momentum and Multibagger stocks to Buy in Bear Market!

Nifty has been moving anywhere between 300 to 400 points on daily basis.

After touching lifetime highs of 12430 there was a collapse towards 7511 and now equally fast reversals are seen. During such times you might keep wondering that Corona Virus issue is only getting heated up but why so much of rally despite of all pessimism around. What everyone is forgetting the fact that markets are discounting the future and one is trying to analyse it looking at the current economic scenario.

The only way you can measure the sentiments objectively for forming trading or investment decision is by using Elliott wave patterns.

We generated buy call on Divis Lab on 7th April 2020 and it gave a return of more than 16% in just two days of time. This was under the Momentum services.

See below what did the chart suggests:

Divis Lab: Momentum call given on 7th April 2020

Happened on 9th April 2020

Elliott wave analysis:

We did not show this short term chart in the research but the overall medium term trend and the rationale for a buy above 2065 levels. Following was given

Buy Price – Buy above 2065

Investment – 5% of capital

Target price –2400

Partial Profit: 2170

Stop loss–1845

From the wave perspective wave (4) (blue) completed near 1600 levels just below the rising trend line. As price bounced from the trend line and consolidated in a range for few days, we only need confirmation that wave (5) had begun on the upside. A close above the 65 EMA in the previous session provided that confirmation hence we initiated a buy call on the stock.

In short, Divislab is moving in an impulsive rise with the Pharma index already supporting the rally. The long term targets are even higher but over the short term as per the internal wave counts 2400 is a target with a stop loss of 1845 which is a crucial support level.

Happened: The stock rallied by more than 16% in just two days . It simply shows power of Elliott wave patterns that we use for most of our research.

The above research clearly shows how one can capitalize the study of Elliott wave and ride the trend. We have been accurate to capture strong up moves in momentum stocks like JSW Steel, IBULLHSGFIN, and LICHSGFIN etc. All of those showed strong gains in short period of time. To know more about our next pick and to ride the trend in momentum stocks you can get access to our report “The Financial Waves Momentum Update”- Get access here

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