Laurus Labs

Dec 25, 2024

The chart of Laurus Labs Limited displays a classic flag pattern, characterized by a strong upward move (flagpole) followed by a consolidation phase (flag). The breakout appears to have occurred around the INR 570 level, marking a potential entry point. To determine profit-taking levels, the length of the flagpole (approximately INR 250) can be added to the breakout point, resulting in a target of around INR 820. For risk management, a stop-loss should be placed below the lower boundary of the flag or recent swing low, near INR 520. Traders could consider entering at the breakout level or on a retest near INR 560–570, with a clear exit strategy to maximize gains and minimize risks.