Technical Positional Pick - Buy Laurus Labs Ltd For Target Rs. 440 - HDFC Securities
Technical Positional Pick - Buy Laurus Labs Ltd For Target Rs. 440 - HDFC Securities
TECHNICAL OBSERVATIONS
* Stock price formed multiple bottoms around 340 levels
* Stock price is taking support at 50 day EMA during the last few days
* Stock price has already broken out on the monthly and weekly charts
* Oscillators like RSI and MFI is showing strength in the current uptrend of the stock
* Primary trend of the stock is positive where it is trading above its 100- and 200-day EMA
* Considering the Technical evidences discussed above, we recommend buying the Laurus Lab between 346.2 and 350 and average at 322, for the upside targets of 388 and 440, keeping a stop-loss at 2311
Buy Laurus Labs Ltd Up to 3 Months @ 346.2-350 CMP 346.2 TGT 440 SL 311
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