Thread by @rdkriplani

Guys technically Laurus looks weak...it’s also almost every Broker’s too recommended stock so don’t be surprised if it falls even further.

Like I had told you when it was 330, 280-250 was v possible and likely.

https://twitter.com/samyukthajoshi/status/1324661984214704128

Looks like I stirred the hornets..so many DM's and so much panic. 😆 So im going to explain this and the thread might be long.
If you can take something away from it good luck, if you cant then also good luck.

Laurus Labs broke a short term support of 320/310 a couple days back..something we expected and i had tweeted about that the stock could give a buying opportunity around 250/280 levels. Now the story is the same. On the weekly charts its had 2 awful weeks so there is weakness.

There are a lot of people and i know brokers are pumping this stock to people too and maybe w good reason. I too said buy around 250/280 levels. A lot of people i know already got some, but didnt wait to see if support holds (which it didnt). So it could fall further.

Now coming to 250..it isnt sacrosanct that Laurus will go till there and cant bounce monday nor is it that 250 has to hold as a support. Maybe it can bounce from there too. So all I was saying was wait and dont rush in coz currently its a top10 popular reco among brokers.

When too many people talk about a stock it rarely goes up.
Does that mean it wont go up? My person biased view is fundamentally the company is amazing, the results are amazing and the growth trajectory is clean and exceptional. So there is nothing stopping it from going up.

When will it go up for sure or from what level it will go back up?
The key here is markets are supreme. It can go up after 1 day, 1 month or even consolidate for a while considering its up over 5x for the year. V difficult to predict short term moves.

The reason for my warning was didnt want people to get stuck who have a short term view. If i can share when the stock is showing strenght, I should share when the same stock is showing the opposite too and based of 2 weekly candles caution is a good thing here.

Personally Laurus is my 2nd largest holding. I have sold no shares until now but I do have a SL which i will happily book profits at. I might love a company but if market thinks otherwise i always say Market is supreme. But i will look to buy it again if i get stopped out.