📈 Alembic Pharma 📉
My Findings :-
1. Breakout from a swing high and Resistance Zone.
2. Close above Feb, March high.
3. Higher High and Higher Low formation.
Bias- Long
Target- 806 and 841
SL- 739
RR- 1: 1.5
All Important Supports and Resistances are drawn in chart.
All levels are of Spot and on closing basis.
Disclaimer : Consult Your Financial Advisor...
Retraced Fib level 0.382 Level in Uptrend ; Once breakout is done Target 765.
PS Note:
This Idea is only for educational purpose; I am not SEBI registered advisor; Please enter at your own risk.
I am not responsible for any profit/loss incurred due to this Idea.
Alembic is having a double zigzag( W-X-Y) correction of wave ((4)).
Price is stuck on the ending diagonal of wave Y.
According to the Elliott wave principle, if the price breaks up the ending diagonal, the price is supposed to reach the targets of 114-123-139 and more .
However, the price must confirm the trend by breaking the wave (X).
In case if price...
Alembic Pharmaceuticals Ltd - 10.12.2021
The stock is trading @ 810 levels
There is a strong resistance @ 825 levels
prices are above ema
stochastic overbought in weekly chart
there is a DOJI in weekly chart
Let the prices go above 827
watch out for the price action
Alembic Pharmaceuticals Ltd - 06.12.2021
The stock is trading @ 805.50 with a day's high of 825
The stock is trading under a channel range
Prices are above EMA
Let the prices go above 817
Watch out for the price action
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# Logic = Self-explanatory ( As everything is on chart nothing much to write )
# Risk = Depends on you how much you can lose and not get sad about it
# Reward = Risk or ( Risk x 2 ) in terms of...
Stock is taking support at levels , where it earlier was taking resistance. If these levels are held, stock might move higher. And there is also a probability of Gartley pattern.
Disclaimer :- This is not any buy or sell recommendation. This is just my view on this counter. Kindly consult with your financial or investment advisor before investing.
There is a fresh Breakout generated in Alembic pharma. With double bottom pattern. And looking good above 990.
Next levels as below :-
Upside levels :-1037 --- 1084 ---1144
Support levels is...
