Alkem Broke Swing Low, Downtrend Resumes again, King Candle

Feb 10

ALKEM today made a King Candle broke the swing lows and continued its classical downtrend on the back of below-estimated Q3 Results.

Con-Call Updates:
5.2% YoY increase in quarterly net profit and a 1.5% rise in revenue during the quarter, revenue growth was led by domestic business. Profitability improved due to cost-efficient measures undertaken by the company. The supply chain issue in the US continued to improve. The company reiterated its EBITDA margin guidance of ~19% for FY25, despite a sluggish Q4 due to increased spending. Concerns remain due to weak Indian growth and lacklustre U.S. portfolio.

About:
ALKEM is engaged in the pharmaceutical business with global operations. The Company is engaged in developing, manufacturing and selling pharmaceutical and nutraceutical products.

F&O Activity:
Short Buildup in Futures with 5000 CE Gaining Significant OI.

Trade Setup:
It looks like a good 1:1 trade setup, with the recent swing high as a strong resistance zone, the RSI and 100 DSMA are Trending Down, and the downtrend continues unless it makes a higher high.

Target(Take Profit):
Around 4650 Levels for Swing & 4346 for Positional Trader.

Stop Loss:
Entry Candle Low for Swing Trader and Recent Swing High for Positional Trader.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.

Feb 11

Trade active

Swing Trader can book as gave a good 4% Swing towards Marked Zones.
Positional Trader can Continue and Trail SL.
RSI AND MACD Still Weak

Feb 13

Note

Gave a Swing to 4562.45 and Made a DOJI today
RSI AND MACD STILL WEAK

Feb 17

Note

Up 3% Today
RSI AND MACD STILL WEAK
Could be a Dead Cat Bounce

Feb 19

Note

Up 0.41% Today
RSI AND MACD STILL WEAK
Could be a Dead Cat Bounce as Still Hovering in Range