LAURUSLABS trade ideas
LAURUS LABS TGT - 485-515 18-4-2024Laurus Labs Ltd. is an interesting chart with following
1. Ascending Triangle breakout under formation on weekly chart
2. Narrowing Bollinger Bands on weekly chart with price moving near upper band
3. Minor Resistance near 448-450 zone above which stock can fetch 485-530 zones
4. Major support near 415 - 425 zone
5. Bullish Marubozu candle + bullish Engulfing candle on daily chart
Lets See How it evolves
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix
LAURUS LABS BROKE OUT OF LONG TERM TREND LINE Laurus labs has been moving in a Parallel Channel from April 23. Having taken multiple supports on the Bottom Trend Line.
It has also broken out of the Long Term Trendline on 3 April 24 and now it is making a retest of the trend line. Even though it has not touched the trendline on retest it has a support zone between 423 to 427. If that support holds we can see a short term Target of 470, 495 and a Long Term Target of 600.
Lauruslabs Simple Analysis - BullishNSE:LAURUSLABS had fallen down much in the past. A few weeks back it had engulfed the Down-trend Line, which is a signal for an Up-Trend to start.
A curious U-shaped recovery can be observed in this chart. Overall we have a Trap Zone and the price is consolidating over it, hence my expectation is it should Go Up.
A Long Term Target of 449.05 is quite possible. This would be a 25.85% Return on Investment and a Reward to Risk of 3.61 in the monthly chart.
LAURUS LABS ON A BREAKOUTLaurus Labs has given a breakout from a cup and handle formation which is bullish formation at 378.75 and currently at 392.30. Its 1st target is 443 followed by 527 and 606. Keep a stop loss below 370.
Disclaimer: I am not a SEBI registered analyst. This is not a recommendation to buy or sell. This is for educational purpose only. Please consult your financial advisor before entering into any transaction.
LAURUS LABS - Bullish Momentum with VolumesNSE: LAURUSLABS is closing with a bullish momentum candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 9% to 14% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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LAURUSLABS - developing setup, wait for BO above 440NSE:LAURUSLABS
cmp 399.85
This setup is developing and appears promising
Let's wait for a breakout over 440 before moving on with buy position
anticipating a first target range of 550–560, and after some area consolidation, will head in the direction of 700
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent research and evaluation to ascertain whether my perspective is consistent with your studies.
Laurus Labs - Long Laurus Labs - Long
Buy & Accumulate Zone: ₹ 397-₹ 401
Target 1: ₹ 418.65
Target 2: ₹ 540.8
Target 3: ₹ 480.9
Stoploss: ₹ 378.5
Trade and Invest Wisely with your knowledge! Good Luck!
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**Disclaimer:
I am NOT a SEBI registered consultant/Advisor. It is completely my view and opinion.
My intention is not to provide any financial advice, training advice, or any type of advice or any recommendations on stock/Forex/Coin buying or selling.
Please do your research and consult with your financial advisor before taking any action.
I am not responsible for any of your actions on buying, selling, or holding the above-mentioned stock or/and index or/and Forex or/and coins.