Uptrend Cont. Forward in Lauruslabs on Weekly TF.NSE:LAURUSLABS is in a beautiful Uptrend lately on a Weekly Timeframe, With Aggressive Delivery based Buying and a Long Buildup in Futures today.
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Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
Lauruslabsanalysis
Laurus Labs cmp 489 by Weekly Chart viewLaurus Labs cmp 489 by Weekly Chart view
- Support Zone at 445 to 460 Price Band
- Volumes are increasing week after week
- Price sustaining over the Rising Support Trendline
- Price sustaining above the Falling Resistance Trendline
- Weekly basis : Support at 415 > 365 > 306 with Resistance at 530 > 589 > 660 > ATH 723.75
- *Bullish Cup & Handle formed with price closure above Support Zone and needs to sustain for breakout to continue*
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.