In the previous session, the NIFTY extended its gain and made a fresh new high near 17150. The index saw a positive opening and remained in a positive territory throughout the day. Technically, The Nifty Index formed a strong bullish candle on the chart and closed with a net gain of 201 points. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for – Wednesday, September 01, 2021’before the market opens.

Dr Lal Pathlabs Ltd

NSE :LALPATHLAB   BSE :539524  Sector : Healthcare

On the daily time frame, we can see that in an ongoing uptrend the stock was in consolidation phase since the month of August. In the previous trading day stock retested the key resistance levels again with strong positive candle. On the daily chart stock prices are moving in the form of a small Triple Bottom pattern. Now further breaking above previous days high will confirm the break out.

We have shown an ADX indicator which indicates a potential in stock. As seen on the chart, +DI is above –DI and ADX value is near 46 which indicates strong momentum in the trend. In addition, The Relative Strength Index (RSI) on the daily chart is 67; indicates bullishness.

The short-term trend for LALPATHLAB looks to be positive for now. To continue with the up move, a break above the previous day’s high near 4083 levels is required. If we take projection of Fibonacci retracement then there is a possibility of seeing the target of 4250 level as long as we do not see any closing below 3880 levels.

Check More Analysis on LALPATHLAB at: Dr Lal Pathlabs Ltd