Stock Radar: Laurus Labs likely to find support above lower band of rectangular pattern; time to buy?

Laurus Labs Ltd, a player in the pharmaceutical sector, has dropped by more than 10% from its highs in July 2024. However, the stock has found support above the 200-day EMA and the lower boundary of its rectangular chart pattern.

Experts suggest that short-term traders with a high-risk tolerance might consider buying the stock, anticipating a potential rebound to the 445-470 range over the next 3-4 weeks.