LAURUS LAB || CHANNEL STUCK (15Min) || BUY ZONE1. We started with the Daily chart and saw stock to be near the upper resistance levels. Overall trend being positive !
2. We came down to 4H and 1H chart to mark all the important key levels and support zones.
3. We came down to 30Min and 15Min to find the channel pattern.
4. On a 5 min chart the price has already retested it's key support level and is good for a buy trade.
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Hi! One should always trade what they see and not what they feel.
I might be wrong or right but what matters the most is how much you are willing to loose...
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LAURUSLABS
Stock Analysis of Lauras labPrice - ₹326.55 Dt. - 09-10-2020
In past, the price has taken the support of 21DEMA and we think this time the stock can do the same. After 4 sessions in green, the stock closed in red today making bearish engulfing pattern. RSI is above 70, so chances are stock can fall for a few trading sessions and become attractive stock to buy.
Laurus Labs - Bullish Engulfing at 21 EMANote: This is for educational purpose only.
21 EMA seems to have acted as a dynamic support before in Laurus Labs uptrend. There seems to be a bullish engulfing at 21 EMA. RSI above 65 indicates bullish momentum. There seems to be a bullish breakout in RSI as well.