ALEMBICLTD | Triangle breakout and retesting the zone - 16%ALEMBICLTD | Triangle breakout and retesting the zone
CMP : 105 (Can buy in dip upto 103)
SL : 99
Target : 121
1:4 risk reward setup
ALEMBICLTD trade ideas
A good move expected after a consolidation phaseSwing Trade:
ALEMBICLTD. Share analysis on 1hr TF;
T: 110++115++;
-Mohit Rajani
Alembic ltd : long opportunityprice is trading near Trenline and moving average support. strong rejection from the lower level. stock can be traded as shown on the chart with SL and Target
Alembic Ltd. - Symmetrical TriangleAlembic Ltd. was in a consolidation preceded by the rally. The counter experienced the consolidation for 6 months. It can be easily seen that the consolidation has descending resistance line and ascending support line forming the price pattern called Symmetrical Triangle, During the pattern formation, the support line was tested twice and the resistance line was tested thrice Finally the daily candle on 23rd March 2021 give the decisive breakout to the resistance line and closed at Rs.113.40. This breakout is also supported by the massive volume. I estimate the first price target at Rs.140 and suggest the stop loss at Rs.105 for the first 5 daily candles. Thereafter, the profit booking/ exit decision should be taken on the negative crossover of 26 EMA line by 5 EMA line. The target is expected to be achieved in a time period of 45-60 days.
Alembic ltd....clear breakout of 6 months consolidation!!!!Rising volume at breakout level,
Rsi abv 60.
relative strength show strength !
add in your watch list....
this is not a buy or sell call,,
ALEMBIC Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading.
Breakout Stock Alembic Limited !! 23 March 2021 !!* My favorite set up when price consolidate near 200 Day SMA and breakout any chart pattern ( In this case symmetrical triangle ) with high volume with any bullish candlestick pattern near the breakout level (In this case Bullish Marubazu) .
Kindly Let me Know if you have any questions.
Thank You
Alembic LTD giving HUGE Pennant Break out!!!Pennant was in formation since June-July and Today, finally, it has given the much-needed breakout with good volumes after consolidation in a range for the last two months almost! Although, Personally I would wait for the restest.
Levels are mentioned in the chart.
Pennant + Consolidation Breakout with targetsPennant + Consolidation Breakout with targets in longer time frame. This trade setup would be ideal for a swing, but can be utilized in the intraday just during the breakout.
ALEMBIC 1W TFSymmetrical Triangle formation in an uptrend can be perceived
Continuation of the trend expected till 122-125 .
Good scope I can see a good scope in this stock as its highly undervalued fundamentaly and strong technically
#Blueline signifies as an #entrypoint
Buy Idea according to daily TF -Symmetrical triangular pattern Entry and accumulation level=96-104
Targets-108,112,120
SL-92,83
trade@own risk .
