ALKEM formed a falling wedge pattern on daily chart. There was a strong run up in price prior to formation of wedge pattern. Multiple support and resistance were tested before the breakout. However, the breakout did not have huge volume. Wait for following day close to see how the price moves before you enter. Stop loss can be had just below previous swing low...
ALKEM is Near all time high
Alkem is in a Rising channel and Resistance is working from last 8 years
Stock is facing resistance around 5500
for the further upside Stock need to cross 5500
If stock tanks then we might see level of 3100-3200
3100-3200 is strongest support and one should not miss opportunity to BUY around these levels.
Thank You...
Buy Alkem above 5083
Target of 5132-5182-5481
SL 4982
Strategy : SBO + RSI > 60 + EMA above 20 & 50
Duration few days
Please consult your financial advisor before investing
All research for educational purposes only.
ALKEM is looking bullish. Recently, it broke the resistance with significant volume. If it retests level 4070 and continues the uptrend, it would be a perfect entry to trade ALKEM for a short position. The Monthly and Weekly RSI is above 60, which shows bullishness. Volume is noticeably increasing & stock has been in an uptrend for a longer time frame. If we...
ALKEM LAB LTD
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakout of triangle Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 3820+.
✅Can Go Long in this stock by placing a stop loss below 3620-.
As disclosed in the chart drawing, this script is tightening the rope around the support area.
I feel like, if the support zone is respected now, we may see a targeted zone in near future.
NSE: ALKEM is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on...
NSE:ALKEM
Stock is consolidating between 3350 to 3450 approximately a month. Price 3350 is holding as good support.
Currently we can see there is a morning star pattern(Bullish Pattern) at support which is a sign of strength. We can go long at these levels and keep SL below swing. The stock should not open gap down on 28th June.
Following to this check 1hr...
Entered this stock today.
Multiple Pharma stocks are getting into up-trend.
Seems to be some sort of Tail-wind for the sector, though the same is not obvious on the pharma sector index:
NiftyPharma due to the high weightage of SunPharma, which is down trending.
In the Weekly Chart of ALKEM ,
we can see that, it has given a strong breakout.
Let it retest 3300 level.
Enter at 3300 level with 3150 as SL.
Book profits with 1:4 at 3700 and exit.
Alkem a good company by fundamentals
Buying zone 3100-3250
Sl 2980
Tgt 3400 3600 3800 3980
Ask your financial advisor before buying
Only for educational purposes
