Laurus Labs, Alkyl Amines: More steam left after 1,000% gain from 2020 low?

Laurus Labs is likely to maintain its upward journey as long as it doesn't break the support level of Rs 600 levels

Stock market investors have seen their wealth grow multi-fold over the past one year, after the markets began recovering from March 2020 crash. At the headline level, the S&P BSE Sensex index has doubled since the low hit on March 23, 2020 and it claimed a new all-time high of 52,859 in June, 2021. 

Individually, certain stocks, including Tanla Platforms, Adani Total Gas, Adani Enterprises, Birlasoft, and Laurus Labs, have given returns between 700 per cent to 1,900 per cent during the period amid broad-based rally and positive news flow.  

So, is there more steam left in these stocks? Here's a chart check:

 
Tanla Solutions Limited (TANLA)

Likely target: Rs 700

Downside potential: 9%

The stock is gradually losing the positive bias, as per the daily chart. This stock has multiple resistances of Rs 850, Rs 970 and Rs 1,000 levels on the upside. Given this, the overall momentum is looking weak at the current levels with the Moving Average Convergence Divergence (MACD) breaching the zero line. The weakness may drag the stock towards Rs 700 levels. CLICK HERE FOR THE CHART
 
Laurus Labs Limited (LAURUSLABS)
 
Likely target: Rs 600

Upside potential: 5%

Past few instances have shown that the stock lost strength whenever it entered the overbought category of the Relative Strength Index (RSI). However, the stock is still continuing to show strength. The current prices are trading in the overbought condition, yet the momentum remains upward towards Rs 640 levels. Going forward, as long as it doesn't break the support level of Rs 600 levels, the strength may remain intact, as per the daily chart. CLICK HERE FOR THE CHART
 
Alkyl Amines Chemicals Limited (ALKYLAMINE)

Likely target: Rs 3,600 and Rs 3660 ( till it holds Rs 3,450)

Upside potential: 2% and 3.50%

The stock has soared over 700 per cent since March 2020. However, it lost upward momentum after the stock split in May, 2021. Technical indicators have formed a negative bias, suggesting weakness and loss of strength. Now, if the counter breaches below the Rs 3,450-mark, it may enter a bearish phase. Until then, the recovery may see a revial towards Rs 3,600 and Rs 3660 levels. CLICK HERE FOR THE CHART

BIRLASOFT LIMITED (BSOFT)

Outlook: Slow momentum below Rs 400 levels.

Until this stock doesn't breakout above the range of Rs 410 to Rs 400 level, supported by volumes, it may continue to see profit booking. The overall trend will remain sluggish if it continuous to trade below Rs 400 levels. The support comes at Rs 380 and Rs 370 levels. CLICK HERE FOR THE CHART
 
Hindustan Copper Limited (HINDCOPPER)

Likely target: Rs 135 and Rs 130

Downside potential: 7% and 10%

After a 682 per cent rally since March 23, 2020, the stock is now trading below the support of Rs 160 levels, as per the daily chart. This weakness indicates further downside towards Rs 125 and Rs 119 levels. The MACD, too, has broken the zero line downward, suggesting ofurther weakness. CLICK HERE FOR THE CHART