LALPATHLAB has given a breakout on weekly trendline with high volume. It's good stock and almost trading in downtrend since 2021, and corrected from ATH -4245. Now trend reversal is expected and can achieve targets up to 3250 in coming weeks. Keep eye on it or add at mentioned levels.
Buy Lalpathlab @ 2270+/-20
SL - 2042
Target - 2800
Reasons -
1. Breakout with W pattern
2. lower darvas box detected
3. Bad result also did not drawn down the stock price
Wait for proper breakout and retest and based on that, one can look for buy side entries.
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One time price is reacted from zone and as a result /footprint daily demand zone created. I think we can enter into trade if price start respecting demand zone.
If price sustain we trade for 1st safe target 3650 and next target will be 3800 & 4100.
Best entry level is near by 2580-3000
Range bound from last 15 days, chances are high for breakout upside. If price sustain over price range 3692 then good to buy for target previous high or new higher high.
Dr Lal Pathlabs Ltd - 23.12.2021
The stock is trading @ 3473 levels
There is a Support Zone @ 3400
There is a Hammer @ Support Zone
The prices are near EMA
One can initiate a buy position @ current levels with support @ 3388
Watch out for the price action
NSE: LALPATHLAB 3651
-Triangle Like Formation
-May Be Forming Of H&S As well So Book Profit Timely
-Price Confirms But Volume Missing
-Next Levels To Watch 3652-3800
-Support Levels Are 3480-3380-3300
-Closing Basis
LALPATHLAB
trading in a triangle pattern. Wait for breakout any side before entering. Chart from 15 min TimeFrame only.
This is for educational purposes only and my personal view. Please check from your end before entering in to trade.
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LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
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Lal Path gave an outstanding result this quarter, it has almost reached its support and the RSI and MACD too seem turning bullish. This seems like a good long set up.
