After taking support near 50 EMA (1), ALKEM started moving up. After a minor pullback for 2 days, it has started moving up again. Look for targets of 3210, 3255, and 3310 in the next few trading sessions.
Alkem Lab has given a very good bullish signal and a breakout from the parallel channel pattern trap (August 2020 - June 2021) for past 11 months
Its a good stock for a short term trading
The Stop Loss for any conservative trader is 3028
The Target is 3678
After reaching our target, trail your stop loss to get maximum profit from the stock in a single...
ALKEM #ALKEM looks to be a eligible counter for breakout above 3175
The volume support has been increasing in the recent past
The counter has making highers highs for while now and nearing its recent BO point
Note : This article is for education and research purpose only , Please consult your financial advisor before taking any investment decisions
At All-Time High, Alkem provides a perfect breakout opportunity where it had retested several times. With good vol and double bottom pattern at support, this stock perfectly blends all the price action. Book your profit according to your Risk Reward.
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.
Entry above 3010
TARGET 3055, 3085
Price volume and momentum showing good strength
This is our personal view and this analysis is only for educational purposes.
Please consult your advisor before investing or trading.
You are solely responsible for any decisions you take on basis of our research.