02-08-2021 12:29 PM | Source: HDFC Securities Ltd
Technical Positional Pick - Buy Laurus Labs Ltd For Target Rs. 440 - HDFC Securities
News By Tags | #2034 #3793 #642 #3050

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Technical Positional Pick - Buy Laurus Labs Ltd For Target Rs. 440HDFC 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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