Dr Lal PathLabs Ltd: Stock Radar: Inverse Head & Shoulder pattern seen in Dr Lal PathLabs; time to buy?

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Synopsis

Dr Lal PathLabs Ltd experienced a breakout from an inverse Head & Shoulder pattern, indicating a potential trend reversal. Experts recommend short-to-medium term traders to buy on dips, targeting above Rs 3,700. The stock has rebounded multiple times, most recently climbing above Rs 3,000 in July 2024, suggesting stronger support and potential upward momentum.

Dr Lal PathLabs Ltd, part of the healthcare sector, recorded a breakout from inverse Head & Shoulder pattern on the monthly charts which has opened room for the stock to head higher.Short-to-medium term traders can look to buy the stock on dips for a possible target of above Rs 3,700 levels in the next few months, suggest experts.The healthcare stock which has a market capitalization of more than Rs 25,000 cr on the BSE hit a record high of Rs

BY

ETMarkets.com

4 mins read, Last Updated:
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