Target Price: Rs 1385.5
Stop Loss: Rs 1222
Stop Loss: Rs 1222
On a daily time frame, IPCA LABS has given a breakout of its all-time high, indicating a continuation of the uptrend. The security has closed near its high indicating buyers are keen to buy the security. The volume increase is supporting price action which indicates buyers are keen to buy the security at CMP.
On the average front price is trading above its 50 and 200 EMA, indicating uptrend. On the momentum front RSI is trading in a higher range which indicates uptrend.
(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)
