Weekly Bullish Breakout in LALPATHLAB
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A Weekly Bullish Inverted Head and Shoulder pattern is visible in the charts of 
LALPATHLAB
Inverted Head and shoulder pattern is a bullish reversal pattern and it is visible in charts after a meaningful downfall in the NSE:LALPATHLAB.
The stock has made a life high of Rs. 4245.50 and gave highest daily close of Rs. 4208.60, highest weekly close of Rs. 4117.40 and highest monthly close of Rs. 4051.55
MACD already gave Positive crossover on Daily and Weekly charts
and on the Monthly chart it is on the verge of giving positive breakout. So, expecting the momentum to continue.
The daily and weekly RSI is also in bullish zone.
One can look to create a fresh position in the scrip near Rs. 2500 levels with the stoploss of Rs. 2302.50 on weekly closing basis. The 1st target will be 2632.50, 2nd target will be 2752.85, 3rd target will be 2892.10, 4th target will be 3028.65, fifth target will be 3164.00 and sixth and final target will be 3250.
And finally this study is for educational purpose only.
LALPATHLAB Inverted Head and shoulder pattern is a bullish reversal pattern and it is visible in charts after a meaningful downfall in the NSE:LALPATHLAB.
The stock has made a life high of Rs. 4245.50 and gave highest daily close of Rs. 4208.60, highest weekly close of Rs. 4117.40 and highest monthly close of Rs. 4051.55
MACD already gave Positive crossover on Daily and Weekly charts
and on the Monthly chart it is on the verge of giving positive breakout. So, expecting the momentum to continue.
The daily and weekly RSI is also in bullish zone.
One can look to create a fresh position in the scrip near Rs. 2500 levels with the stoploss of Rs. 2302.50 on weekly closing basis. The 1st target will be 2632.50, 2nd target will be 2752.85, 3rd target will be 2892.10, 4th target will be 3028.65, fifth target will be 3164.00 and sixth and final target will be 3250.
And finally this study is for educational purpose only.
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