LAURUSLABS trade ideas
Laurus Labs - Bouncing off demand zone, again!One of the biggest wealth generator of 2020 has been in a sideways direction, although stronger than overall pharma sector, is back at the demand zone of 335-345. Initiating longs here can give favourable RR for traders.
Market is volatile and trade with caution.
SELL SELL SELL!!!Every indicator is showing a downward direction. It's time to exit from this stock. Price is struggling to cross the parallel zone. And the MACD is about to cross into -ve. RSI is downwards and for Stochastic RSI, the crossover is happening
let me know your thoughts in the comments section.
Pole Falg in LAURUSLABSLAURUSLAB has formed inverted pole and flag twice on hourly chart, in the first pole-flag, it has retraced 78% of fall quickly where as in second pole-flag it is retracing slowly. and it is forming lower highs and lower lows. moreover stock split is ex-date is on 29-Sept-2020. which increases liquidity. we can see a weakness in the coming sessions.
LAURUS LABS - AttractiveBasically expecting a breakout and a good rally upwards. Buy only above 1155
However, Nifty will be facing a strong resistance this week which is why there "may be" a pull back.
If Nifty retraces and begins a fresh correction then keep an approp stop loss based on your risk appetite.
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