LAURUSLABS
Laurus Labs: A new uptrend has begin or still part of correctionLaurus Lab : (Weekly Chart-Elliot Study)
Interesting case to see in chart is weather the correction is over or some more pain is left in it.
It has completed all the 5 impulse wave with this 1st impulse wave of major gets completed, now it is in correction of, This gives rise to two possibilities
Case1 :
Correction is over by completing the abc corrective wave pattern at around 450 level and has resumed its UP journey for the major 3rd impulse wave, confirmation of this will be successful the breakout above 650-680 level. With this we can conclude that short term trend is up and target first 580 and then onward 650 with SL of 470.
580 level can be a tough level to cross, it also the neckline of double top.
Case 2 :
If it retrace back from 580 lv or sub 600 lv this could be first leg "A" of bigger corrective wave. The point of retracement would be completion of leg "B" and it would be moving to complete the last leg of correction "C", if this happens target should be around 380 level for completion corrective wave ABC. This would be good for long term adding with SL of 340.
Conclusion :
A new uptrend has begin or still part of correction is not known, but short term trend is UP. Market to validate in coming sessions.
Laurus Labs - Long EntryWhy this Trade..??
1. Triangle Pattern
Buy or Sell based on the Support Break with Volume
Disclaimer:This view is purely for educational purpose and it's my personal.Please consult your financial advisor before attempting any trade.We're not responsible for any loss or profits.
KEEP RADAR ON LAURUS LAB TECHNICAL VIEW DCB 523Laurus lab
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.
Laurus Labs: Is it making a comeback...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 would be if it breaches 60 and moves up towards 70
Observe the volume bars. Dried up volume would set the stage for revival. Should wait and watch.
In the long term I am bullish, though I have exited the stock at 600. Will enter if technical parameters are favourable.
LaurasLab finally formed a good support can show move now 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
LAURUS LAB LONGonly 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
2. chart pattern.
3.Magic of insiders.
Note - we should not buy these type of stocks in any terms. because they give big move upside as well as down. no stability.
what are your views guys..
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