Alkem labs New Based Inverted HammerHello Traders,
Just for the small thing i noticed today,
Before opening bell the Zee business Researcher has Given the Trading call in Alkem labs & i was just watching the Trading session every hour cause in my watchlist through (TOP DOWN APPROACH) study .
How Does the news can influence overall sentiment of the candle, on the first hour every single person was rushing to buy it & after the 1 hour nobody seems interested in buying & holding the script.
I decided not to trade today in this stock for swing & it was a better decision hence i could wait for 2-3 more days how it reacts.
So be confident on your process.
One Process , one Coach & One Approach.
Self decision is Better than some market pandit recommendations.
Thank You.
Prince
Alkemlab
ALKEM LAB STRUCTURE FOR INTRADAY (01.04.2024)ALKEM LAB is Bullish in Higher Timeframes and price is making a Higher-High structure in Hourly timeframe which is going along with the trend in bigger timeframes. Consider the levels for Intraday; entry should be made according to price-action in smaller timeframe, may be 5 mins.
These levels are only for Cash segment, NOT FnO! Targets are calculated according to the ABCD pattern of Harmonics.
If you like the idea, do give a boost to it so that it can be a motivation for me to post contents like this in future.
Alkem Lab Break previous High With good Volume.Alkem Laboratories is engaged in pharmaceutical business with global operations. The Company is engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.
Revenue from Operation grew by11.7% YoY during thequarter, with EBITDA margin of 21.7% and Net Profit margin of 18.0%.
Highest Quaterly revinue of 3440 Crore, And highest net profit of 615 crore in sept quater.
#ALKEM LONG TRADE IDEA SETUPGreetings Folks,
today I have prepared a setup of ALKEM on NSE
the analysis is as follows-
- The price is on a good bullish trend
- its time for price to retrace a little to refuel its momentum
- i have marked the immediate support below
- you may also do counter trade short but it would be require high cautiousness
don't play with fire, always use a predefined stoploss
ALKEM LAB LTDshare 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 frame )
- approachable targets 3369,3725, 3933, 4227 ++
thanks
Alkem Chart Analysis !! 📈 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 in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
ALKEM - Retest & Reversal + Bullish Engulfing @Crucial level The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
alkem chart it breaking the channel
This is the chart of alkem labs 1 day timeframe the stock is in a channel pattern from last feburay2020 it breaked the channel is a small candle and with small volume so see the next resistance line whether it break it with a good candle enter the stock this is completely for postional view
Alkem lab Ltd - Weekly BreakoutAlkem 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 trade
🔴DISCLAIMER
***** Its just for an educational purpose and so you must also follow your own technical analysis too ******