Laurus Labs' stock kept climbing, hitting a fresh record high and showing strong buying momentum.
Current Price and Trend
The share price was around Rs 1,128.50, while the all‑time high sits at Rs 1,141. The chart is forming higher highs and higher lows, a classic sign of an uptrend.
Technical Indicators
The stock is well above its 20‑day, 50‑day and 200‑day exponential moving averages, indicating strength on short, medium and long‑term charts. The Relative Strength Index (RSI) is near 78, pointing to strong buying pressure but also signaling possible short‑term overbought conditions.
Key Levels and Targets
- Resistance: Rs 1,150. A clear break above this with good volume could open the path to Rs 1,233.
- Support: Rs 1,092, providing a safety net if the price dips.
- Entry suggestion: Around Rs 1,128.50 with a stop‑loss near Rs 1,076.
Suggested Trading Strategy: Bull Call Spread
To benefit from a potential rise while limiting risk, traders can use a bull call spread:
- Buy a call option that is at‑the‑money (ATM) or slightly in‑the‑money (ITM) with the same expiry.
- Sell an out‑of‑the‑money (OTM) call option with a higher strike price.
- The net cost is lower than buying a single call, and the maximum profit is capped at the difference between the two strikes minus the net premium paid.
Bottom Line
The stock’s momentum remains robust, and a decisive move above Rs 1,150 could trigger a rally toward Rs 1,233. Traders might consider entering near the current level with a bull call spread to capture upside while protecting against downside.
Remember, this is just an analysis, not a prediction. Do your own research and consider your risk tolerance before making any trade.