Technical Analysis of Alkem Laboratories Ltd (NSE: ALKEM)
Current Price & Key Levels
Current close: ~₹5,704.50 (as shown on the chart)
All-time high region: ~₹6,000–6,400
Major horizontal support/resistance zone: ₹5,400–5,700 (thick red/blue band that has acted both as support and resistance multiple times in 2025)
Recent Price Action (Sep–Nov 2025)
Price broke down briefly below the lower trendline of the descending channel in Oct–early Nov but quickly recovered — this created a false breakdown / bear trap.
Since then, price has formed a smaller ascending/symmetrical triangle (labeled “Trend Channels” on the chart) inside the larger descending wedge.
The 7.58–8.91% measurements shown are typical triangle targets (measured move from the base of the triangle).
Most recent weekly candle (week ending 21–22 Nov) is a strong bullish marubozu closing right at the upper boundary of the ₹5,400–5,700 zone and challenging the upper trendline of the smaller triangle.
Breakout above the upper line of the smaller triangle + the ₹5,700–5,800 resistance zone would confirm the end of the 6–7 month correction.
Measured targets from the large descending wedge reversal: ₹6,500–6,800 (adds the height of the wedge to the breakout point).
Additional target from the smaller triangle: ~8–9% from ~₹5,300 base → ₹5,900–6,100 zone.
Volume profile (not visible here) usually shows heavy volume around ₹5,000–5,500; clearing ₹5,800 with volume would be very bullish.
Bearish Case (Still Possible but Less Likely)
Failure to break ₹5,800 cleanly and rejection back into the ₹5,400–5,700 zone would keep the larger descending wedge intact.
Next downside target would be ₹4,800–5,000 (lower trendline of the big wedge and previous swing lows).
Conclusion
As of 23 Nov 2025, Alkem Labs is at a major inflection point. The price action strongly favors the bullish resolution:
A decisive weekly close above ₹5,800–5,850 would very likely trigger a multi-month rally toward ₹6,500+.
Stop-loss for longs can be kept below ₹5,400 (recent swing low).
Risk-reward looks attractive (risk ~5–6% for potential 15–25%+ upside).
So, bias is bullish above ₹5,700–5,800, targeting ₹6,200–6,800 in the coming months if the breakout sustains.
Current Price & Key Levels
Current close: ~₹5,704.50 (as shown on the chart)
All-time high region: ~₹6,000–6,400
Major horizontal support/resistance zone: ₹5,400–5,700 (thick red/blue band that has acted both as support and resistance multiple times in 2025)
Recent Price Action (Sep–Nov 2025)
Price broke down briefly below the lower trendline of the descending channel in Oct–early Nov but quickly recovered — this created a false breakdown / bear trap.
Since then, price has formed a smaller ascending/symmetrical triangle (labeled “Trend Channels” on the chart) inside the larger descending wedge.
The 7.58–8.91% measurements shown are typical triangle targets (measured move from the base of the triangle).
Most recent weekly candle (week ending 21–22 Nov) is a strong bullish marubozu closing right at the upper boundary of the ₹5,400–5,700 zone and challenging the upper trendline of the smaller triangle.
Breakout above the upper line of the smaller triangle + the ₹5,700–5,800 resistance zone would confirm the end of the 6–7 month correction.
Measured targets from the large descending wedge reversal: ₹6,500–6,800 (adds the height of the wedge to the breakout point).
Additional target from the smaller triangle: ~8–9% from ~₹5,300 base → ₹5,900–6,100 zone.
Volume profile (not visible here) usually shows heavy volume around ₹5,000–5,500; clearing ₹5,800 with volume would be very bullish.
Bearish Case (Still Possible but Less Likely)
Failure to break ₹5,800 cleanly and rejection back into the ₹5,400–5,700 zone would keep the larger descending wedge intact.
Next downside target would be ₹4,800–5,000 (lower trendline of the big wedge and previous swing lows).
Conclusion
As of 23 Nov 2025, Alkem Labs is at a major inflection point. The price action strongly favors the bullish resolution:
A decisive weekly close above ₹5,800–5,850 would very likely trigger a multi-month rally toward ₹6,500+.
Stop-loss for longs can be kept below ₹5,400 (recent swing low).
Risk-reward looks attractive (risk ~5–6% for potential 15–25%+ upside).
So, bias is bullish above ₹5,700–5,800, targeting ₹6,200–6,800 in the coming months if the breakout sustains.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.