Laurus Labs, Alkyl Amines: More steam after 1000% gain from 2020 low?
Equity investors have seen their wealth grow several times over the past year, after the markets began to recover from the March 2020 crash. At the stock level, the S&P BSE Sensex has doubled since its bottom hit. March 23, 2020 and it hit a new all-time high of 52,859 in June 2021.
Individually, some stocks, including Tanla Platforms, Adani Total Gas, Adani Enterprises, Birlasoft and Laurus Labs, generated returns of between 700% and 1900% during the period amid a widespread recovery and positive news flow. .
So, is there more steam left in these stocks? Here is a graphical check:
Tanla Solutions Limited (TANLA) Likely target: 700 rupees Downside potential: 9% The stock is gradually losing its positive bias, as the daily chart shows. This stock has several resistances of Rs 850, Rs 970 and Rs 1,000 levels on the rise. Given this, overall momentum looks weak at current levels, with the moving average convergence divergence (MACD) crossing the zero line. The weakness can drag the stock towards the levels of Rs 700. CLICK HERE FOR THE TABLE Laurus Labs Limited (LAURUSLABS) Likely target: Rs 600 Upside potential: 5% A few past examples have shown that the stock loses strength whenever it enters the overbought category of the Relative Strength Index (RSI). However, the title continues to show strength. Current prices are trading in an overbought condition, but momentum remains up towards Rs 640 levels. Going forward, as long as it does not exceed the support level of Rs 600 levels, the strength may remain intact, according to the daily chart. CLICK HERE FOR THE TABLE Alkyl Amines Chemicals Limited (ALKYLAMINE) Likely target: Rs 3,600 and Rs 3,660 (until he holds Rs 3,450) Upside potential: 2% and 3.50% The stock has climbed more than 700% since March 2020.
However, it lost its bullish momentum after the stock split in May 2021. Technical indicators formed a negative bias, suggesting weakness and loss of strength. Now, if the meter crosses the Rs 3,450 mark, it may enter a bearish phase. By then, the recovery could see a revival towards the levels of Rs 3,600 and Rs 3,660. CLICK HERE FOR THE TABLE BIRLASOFT LIMITED (BSOFT) Outlook: Slow moment below Rs 400 levels. Until this stock does not exceed the range of Rs 410 to Rs 400, supported by volumes, it can continue to record profits. The overall trend will remain sluggish if it continues to trade below the Rs 400 levels. Support is available at the Rs 380 and Rs 370 levels. CLICK HERE FOR THE TABLE Hindustan Copper Limited (HINDCOPPER) Likely target: Rs 135 and Rs 130 Downside potential: 7% and 10% After rallying 682% since March 23, 2020, the stock is now trading below the support of Rs 160 levels, according to the daily chart. This weakness indicates further decline to the Rs 125 and Rs 119 levels. The MACD also broke the zero line lower, suggesting further weakness. CLICK HERE FOR THE TABLE