keep radar on 523DCB.key point 508.target 538,555,572 upto supply zone
option buyers favour sustaining above 522 or below 492.These two level are important,Attaining this level we wait reversal or breakout then deceide buy ce or pe.momentum zone above 522DCB or 492 DCB. key point 508.
tommorrow we keen watch trend continue or reversal.
Simple price analysis of Laurus Labs.
Laurus Labs, currently has found a support at around 450 and has made reversal.
Critical thing to note would be when Laurus Labs crosses the 200 day EMA, at around 529. Need to check other supporting parameters to see if the turnaround is in the corner.
The RSI has reversed from 40 and is currently at 46. Positive trigger...
I will buy LaurasLab because :
It has been taking support at the trend line .
It has touched the support and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 598/586
Target : 730/800
Stop loss : 570/550
only for educational purpose..
1. Laurus Labs insider trade: Disposal of 5,500 equity shares worth Rs 36.13 lacs by employees immediate relative - 02.09.2021.
2. Dont buy this because of insider trading.
3. Laurus lab can go in either direction so wait the line crossed in chart.
4. if upside move then target would hit.
Reason - 44 moving average