Midcap Medallion : Buy Laurus Labs Ltd For Target Rs. 505 - Religare Broking
Laurus Labs Ltd.
* We are seeing collective strength in pharma stocks and Lauruslabs is showing renewed buying interest within the space.
* On the weekly chart, the stock is trading in a rising channel where prices found support around the lower end of the channel and edged higher.
* Also, it has ended its long term corrective phase by surpassing the levels of 445-450. The prices have retested its long-term moving averages and the momentum indicator has also given a bullish crossover.
* All the technical parameters coincides with the fact that the stock has strong potential on the upside.
Buy Laurus Labs Ltd CMP 450 Range 450-455 SL 430 Target 505
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