I think this stock best for swing trader but very consolidation phase and also make a chart pattern so wait for good breakout then enter it
Always remember our sl < target = profitable trader
Thanks and comment our thoughts
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...
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...
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...
ALKEM Formed Descending Triangle Pattern wait for proper breakout and retest and based on that, one can look for entries.
Please HIT the like button, this motivates us to make more such analysis.
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ROUNDING BOTTOM BO seen in NSE:ALKEM
can initiate long trade with SL at BO candle.
Target would be depth of Rounding bottom..
Good risk reward ratio.
SL : 3880.. short term target 4100
**EDUCATIONAL PURSPOSE
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 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...
Trading in parallel channel for a year..
Finally a bullish BO and retesting of support levels..
Targets based on Fib levels .. there can be easily 15-20% profit here..
Alkem Labs closed yesterday above one year high at 3197.25 and it has crossed the resistance and we could expect a target of above 3300 .
RSI is Bullish at weekly and daily
