LAURUS LABS - Minor breakout
Laurus took a huge beating from the top. However it seems that now a bottom has been formed.
We have a range breakout today, accompanied by good Volumes.
One can enter with a sl of red line.
Stock is good to move up after consolidation near 200 level ... rest all levels as given on the chart.
Please Correlate yourself also on charts. This is for educational purpose only. Must consult your financial advisor before investing.
Support level highlighted in Red 475 & if this is Broken the next support is @ 381 Levels
RSI - Daily Charts - 26 - Note Last time Also we saw a bounce back at the similar level
MACD - Downtrend as on today but we should be some positive sign in the next 1 or 2 days
Laurus Labs -
Long term & Short term suggestions
Alerts:
RSI - Daily Charts - downtrend 32
MACD - Down trend
Short term / Safe Traders
As i have given Enter only once its cross the GREEN line - 50 Day Moving Average -
Buy only once it goes Above 668 Levels for a stable uptrend.
Long term
can buy on Dips as its in a down trend
But once its cross the RED line...
LONG
IF CLOSE ABOVE 470, CREATE LONG POSITION FOR TARGET OF 500, 550, 570 (IF CLOSE ABOVE 600 AGAIN LONG FOR TARGET OF 700, 750)
SL : 470 AFTER CROSSING 485 LEVELS (TRAILING SL IS IMPORTANT)
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any...
Look at the chart structure. The technical gap has been covered & the stock has taken a bounce from the POC support.
Moreover, the stock is going to be added into FNO in this month.
Keep holding for good gains.
LAURUS LABS - One of my Fav. Stocks :)
Has been underperforming for a while
Pros
Currently MACD is strong uptrend
RSI - 56 which is Good
Right time to buy on Dips if available
Cons
Just Below the 50 Day Moving Average - The Green line as shown
Suggestions
Enter once it crosses the 50 Moving Average around 660 - 678 levels
would be the right levels to enter and...
Laurus Labs - Great Buy for Long term will not get it at these levels again :)
You would see great returns in 8 - 12 months
It has just given a Bounce back towards an uptrend now.
Green line - 50 Day MA - its still below that but it would go up in no time :)
Red line is the - 200 day MA
RSI - 41 - Towards an uptrend
LAURUS - BUY / HOLD
Reversal seen today - :) happy trading we will be able to see a good uptrend starting tomorrow onwards.
RSI - still at 33.26 -
But as seen below it has already hit its lows and now we will get to see an uptrend
1st Target - 620
2nd Target - 650
We would be able to see 700 -750 levels by Mid of Oct :)
Kindly like and Follow for free tips :)
Laurus Labs- HOLD
We will see a downfall
Support @ 632 , Next Level - 622 or 590 Levels
We will see a BOUNCE BACK at any of the above levels
Post which we can see a good uptrend.
Suggest to HOLD and Add on Dips
Currently Weak on MACD - Daily & Weekly Charts
RSI - Weak
Laurus had met with resistance at this zone ( 687-693) - marked, and started moving down and then did a bullish engulfing candlestick pattern ( see black arrow) and started moving up...crossed the resistance zone and is slowly moving up. Laurus Labs has solid fundamentals and has moved big already but has potential for more upside. targets marked
Laurus Labs Ltd. develops and manufactures active pharmaceutical ingredients for therapeutic areas of anti-retrovirals and hepatitis C. The company was founded by Dr. Satyanarayana Chava on September 19, 2005 and is headquartered in Hyderabad, India.
NSE
