Gap will be closed in some time. For now there is strength in the stock, till now there is no profit booking seen from a long time. The next big target is 1125 if we don't see the profit booking in upcoming days. Remember we will see the attempt to close this gap in some time. Volume divergence is also sen which is not good for long term. The only problem for 1125...
Lauras Labs are looking at a possible retracement. Since the post lockdown rally the stock has retraced around 50% both the times. The first bullish wave stood for 21 sessions and the second wave for 25 sessions. For the third wave, 19 sessions rare done. Today it made a Doji Candlestick pattern. Wait for consirmation to check for retracement
RSI above 60 level and closing above wd gann 45 degree level it was a clear indication of bullishness in laurus labs it made high of 933 trade entry price 3 points above 847 which was 45 degree level. stock hit our first target of 906.7 accurately.
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BUY LAURUS LABS AT CMP 347.50 SL 336 TGT 370.
HORIZONTAL ORANGE LINE SHOWS SUPPORT AND DOUBLE BOTTOM. TODAY'S CLOSE ABOVE NECKLINE OF HEAD & SHOULDER SUPPORTED BY RSI & CCI CROSSOVER AND VOLUME IS GIVING SUPPORT TO OUR VIEW. RALLY CAN EXTEND TILL 400 PROVIDED 328 IS HOLD ON CLOSING BASIS.
Laurus Labs Ltd. develops and manufactures active pharmaceutical ingredients for therapeutic areas of anti-retrovirals and hepatitis C. The company was founded on September 19, 2005 and is headquartered in Hyderabad, India.