A bullish move expected in ALPA Laboratories
Nifty today ends around 0.65% higher, which is a good signal for placing bullish trades in these tumultuous times. One such bullish opportunity can be observed in Alpa laboratories.
The stock is currently at around its support zone. According to my Fibonacci retracement analysis (which is not shown in charts) when this stock retraced from its high of 67.65 levels it retraced around 0.618% to 62.35, and immediately pulled back 0.5% to 63.35. Volume too supports this upward move towards the end of today's session. I've marked the buying zone, possible target levels and provisional stop loss in the picture.
The stock is currently at around its support zone. According to my Fibonacci retracement analysis (which is not shown in charts) when this stock retraced from its high of 67.65 levels it retraced around 0.618% to 62.35, and immediately pulled back 0.5% to 63.35. Volume too supports this upward move towards the end of today's session. I've marked the buying zone, possible target levels and provisional stop loss in the picture.
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