Laurus Labs Ltd

NSE :LAURUSLABS   BSE :540222  Sector : Pharmaceuticals

About Company: Laurus Labs is principally engaged in offering a broad and integrated portfolio of Active Pharmaceuticals Ingredients (API) including intermediates, Generic Finished dosage forms (FDF) and Contract Research services to cater to the needs of the global pharmaceutical industry.

Daily Chart of LAURUSLABS:

Technical Outlook Of Laurus Labs Ltd:

On Wednesday 29-Dec-2021 trade Laurus Labs Ltd Stock prices gained 3.64% and closed at 548.25. If we look at the daily chart, the stock is trading in a long term up trend, also short term correction seems to be over and stock is forming double bottom pattern around trend line support as marked on the chart above. We expect stock to head towards higher level in next few trading sessions as the pharma sector overall is gaining momentum. If we look at the technical indicators – Squeeze momentum indicator turning to green and histogram heads above 0 level. Look at the chart structure and technical indicator we have positive outlook on the stock.

We suggest to investors and short term traders to buy Laurus Labs at current market price for the targets of 725- 800 with stoploss Placed below 450 level, holding period 3-6 Months