The short-term outlook is bullish for Divi’s Laboratories. The stock has been moving in a sideways range since October last year. Barring the rise to ₹6,448 in December, the stock has been oscillating between ₹5,634-₹6,276.

Within this, the share price touched a low of ₹5,656 earlier this week and has risen back very well. It indicates that the sideways range is intact. That leaves the chances high for the share price to go up towards the upper end of the range.

On the charts, there is room for Divi’s Laboratories share price to rise towards ₹6,250-₹6,300. Traders can go long now at ₹5,998.

Accumulate on dips at ₹5,750. Keep the stop-loss at ₹5,610. Trail the stop-loss up to ₹6,070 when the price goes up to ₹6,140. Revise the stop-loss further up to ₹6,180 when the share price goes up to ₹6,240. Exit the long positions at ₹6,300.

Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)