NSE:ALKALI has broken out of multi year downtrend and huge volumes supports it. The huge upmoves should accompany a correction which we shall wait patiently and not chase such heavy momentum.
Accumulation around Rs62-70.
For Target of Rs109
Stop Loss: Rs59
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Round bottom is formed here in weekly time frame, confirmed by breakout with good volume, recently price retested the breakout level and reversed to resume its uptrend.
also hidden bullish divergence seen in weekly
sl - 61, tgt - 100-110 range
Alkali Metals Ltd. engages in the manufacturing and selling of chemicals. The company was founded by Venkata Subramanya Satyanarayana Murty Yerramilli on April 17, 1968 and is headquartered in Hyderabad, India.