Target: Rs 960
Stop Loss: Rs 855
Laurus Labs is displaying a robust bullish structure. After rebounding from a well-established support zone near Rs 815, the stock has gained momentum and is moving toward its all-time high. The recent formation of a strong bullish candle, supported by steadily increasing volumes, reflects strong buying interest and active market participation. The Relative Strength Index (RSI) stands at 66.1 and is trending upward, reinforcing the prevailing bullish momentum and leaving room for further upside.
In the immediate term, Rs 867 serves as the primary support level, while a decisive breakout above the key resistance at Rs 900 would confirm renewed bullish conviction. Such a move could potentially propel the stock towards the next targets of Rs 923 and Rs 960.
(Amruta Shinde, Research Analyst at Choice Broking)
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