Look at 10th August candle of DIVISLAB with a high wick on top with a high volume bar. What it signifies..?? Any guess?
It shows buyers were in force and took a very high jump from 2784 to 3063 and they also were successful to take the price upto 3293. But then suddenly Sellers came in force and prices dropped to 3117. This simply signifies that big players with smart money were bearish on the stock and they booked their profit on high bought quantities, which resulted in price drop.
BEWARE friends the breakout was with a very weak candle on high volumes, which will result in gap to be filled in a very short span of time AND the stock will retest it support at 2500-2600 range.
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@himanshu93, Stock is going through its distribution phase, have a look at 21Aug weak candles on top on high volumes...this is a clear sign of not bullish.