johntradingwick

Alkem Lab - Retracement before moving higher!

Long
NSE:ALKEM   ALKEM LAB LTD
The market structure is Bullish and the price is giving a retracement to the previous flip zone. Price has been testing the previous supply zone which is now turned into a demand zone . This zone has a confluence with 0.618 Fib and the 200MA.

Targets: 3083, 3143

You are always advised to use an appropriate Risk-Reward ratio as per your strategy.

P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Comment: 2 more targets if we are able to survive above the BLue zone.

Trade closed: target reached
Comment: All targets reached. ✅✅

8% in 4 days. 🚀🚀
Comment: Additional target of 3320 was reached.✅✅

Rajat Kumar Singh,
B.Tech. (Delhi Technological University)
Community Manager (India), TradingView

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