share name : alkem lab ltd
call type : positional or investment
- share is forming a cypher pattern with ab=cd
and double bottom
- a good consolidation can be seen between
level 3369-2828
- 3369 is a hurdle zone for this share which
acting as a huge resistance
- we can accumulate this share around
2969(after competing of gartley in shorter
time...
Alkem despite market being bearish this stock has managed to hold its levels
and if it gives BO
and the levels that i have marked
it will sky rocket
buy side recommendation
do your own research.
Sentiment: Bullish
From these levels the stock can show the targets of 3327
Analysis:
1. Bollinger Bands are squeezed and the breakout of the upper band.
2. Rsi is above 60.
3. Macd is bullish crossover.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
18/4 educational purpose only
alkem
sell at cmp or sell on rise around 3450/3475 (20ma/hourly 3474.55)
cmp 3429.10
sl above 3510
target 3300 / 3225
candles have broken the supporting line of the symmetrical triangle pattern on daily charts.
📈 Alkem Lab Ltd. 📉
Today broke out from a Resistance Zone after testing two times and also broke out from a downtrending Trendline Zone on closing basis.
On Buy Side I am looking for Targets of 3750-3800 zone followed by 4000-4050 zone.
StopLoss should be kept in 3375-3425 zone.
It offers 1:4 Risk To Reward.
All Important Supports and Resistances are drawn...
ALKEM Formed Descending Triangle Pattern wait for proper breakout and retest and based on that, one can look for entries.
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Alkem Lab
Following beautiful Descending Channel Pattern
In between Symmetrical triangle Pattern is also emerging.
Can Go both Way after B/O or B/D
keep close watch
good for learning purpose
mcpricaction
