LAURUSLABS

Technical Update – ₹740 Could Be Key Support

On 20th June 2025, the stock price of

took strong support at the 20-day moving average. After taking support, the stock showed a sharp upward movement, which indicates that buyers became active and confidence returned in the stock. Since then, the stock has been trading above the 20-day moving average, which is a positive sign and shows that the stock is in an uptrend. From 26th June to 4th July, the stock gave seven straight days of positive closing, which is a sign of strong buying interest. But during this strong up move, some warning signals also appeared. The stock price started moving outside the upper band of the Bollinger Band, and the RSI (Relative Strength Index) also crossed above 70, which indicates that the stock entered the overbought zone. When a stock is in this zone, there is a higher chance of profit booking or a short-term fall. On 8th July, the candlestick formed had a small real body and a long upper shadow, which suggests that although the stock tried to go higher, sellers pushed the price down. This kind of candlestick often indicates weakness or reversal, especially after a sharp rally. Today, the stock fell by around 1.8%, showing signs of profit booking and a possible short-term correction. If this trend continues, the stock may move down to around ₹740, where it may find support again