Laurus Labs has retested the demand zone at 590 level and now is on a uptrend. It has now breached 617 level which was a Fibonacci resistance level. It closed at 619.2 at end of day with a green candle, hence indicating a buy for short term with a target at 639 and if breached can reach 671.
Comment:
The first target has been achieved today and there has been another Fibonacci resistance breakout at 639. Those holding the stock can exit at 655 levels or further hold it till 670 levels.
Comment:
The 655 level has also been achieved today. People can exit at this level. Anyone wanting to go for long term can hold till 670-690-722 respectively and can keep their trailing stop loss accordingly. The current stop loss can be placed at 638.
Trade closed: target reached:
Target achieved on 8th oct for those exited at 655 and the rest who held stocks exited at 638, hence making profits for this stock. Thank you and follow me for more profitable trades.