ALEKM !! Perfect Reversal SetupALEKM !! Perfect Reversal Setup
- Made double bottom
- Highest ever volume on monthly and weekly chart
- Broke High of Bearish engulf candle on weekly chart
ALKEM
Alkem Laboratories Ltd. (NSE: ALKEM)Technical Analysis and Key Levels
1.Current Price Action:
Alkem Laboratories is trading at ₹5,484.40, testing a critical support zone (₹5,300–₹5,450) identified by historical price action and volume profile.
2.Resistance and Support Levels:
Immediate Resistance: ₹5,811.55 (previous swing high).
Key Resistance Zone: ₹6,000–₹6,346.55. A breakout above ₹6,346.55 can lead to fresh bullish momentum.
Immediate Support: ₹5,323.60 (near-term support).
Critical Support: ₹4,629.85, a major demand zone. Failure to hold this level could trigger further downside.
3.Volume Profile:
High-Volume Node (HVN): Significant buying interest is observed around ₹5,450–₹5,800.
Low-Volume Node (LVN): Below ₹5,300, liquidity decreases, increasing the risk of a sharp drop toward ₹4,629.85.
4.Moving Averages:
The stock is currently hovering around the 50-day moving average, indicating short-term indecision.
The 200-day moving average at ₹5,323.60 acts as crucial support for long-term trend analysis.
5.RSI Indicator:
The RSI is neutral but leaning towards the oversold region, suggesting potential accumulation in this zone. A break below ₹5,323 could push RSI into bearish territory.
6.Key Observations:
Nomura's Price Target Update: Nomura revised the price target to ₹6,097 (Neutral stance), close to the immediate resistance levels, which aligns with market consolidation.
7.Potential Scenarios:
Bullish Case: Sustaining above ₹5,484.40 and breaking ₹5,811.55 may open doors for ₹6,346.55.
Bearish Case: A decisive break below ₹5,323.60 could lead to ₹4,629.85.
8.Trading Strategy:
For Bulls: Look for confirmation above ₹5,811.55 with increased volumes before entering long positions.
For Bears: Short opportunities arise if the stock breaks and sustains below ₹5,323.60 with a target near ₹4,629.85.
ALKEM Trading near Weekly Demand Zone of ₹5405.85 to ₹5180ALKEM's current price is ₹5389, positioning it near a demand zone between ₹5405.85 and ₹5180. This zone, may serve as a support level. Investors could consider monitoring the stock's movement within this range for potential buying signals or signs of price stability, indicating a possible rebound from this support zone.
Alkem looks alrightAlkem Laboratories Ltd. engages in the development, manufacture, and sale of pharmaceutical products. It produces branded generics, generic drugs, active pharmaceutical ingredient, and nutraceuticals.
Alkem Laboratories Ltd. CMP is 6039.55. The positive aspects of the company are Company with Low Debt, Company with Zero Promoter Pledge, Stocks Outperforming their Industry Price Change in the Quarter and MFs increased their shareholding last quarter. The Negative aspects of the company are High Valuation (P.E. = 35.2), Declining Net Cash Flow : Companies not able to generate net cash and Increasing Trend in Non-Core Income.
Entry can be taken after closing above 6105 Targets in the stock will be 6202 and 6315. The long-term target in the stock will be 6442. Stop loss in the stock should be maintained at Closing below 5818 or 5363 depending upon your risk taking ability.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
ALKEM Near All time high ALKEM is Near all time high
Alkem is in a Rising channel and Resistance is working from last 8 years
Stock is facing resistance around 5500
for the further upside Stock need to cross 5500
If stock tanks then we might see level of 3100-3200
3100-3200 is strongest support and one should not miss opportunity to BUY around these levels.
Thank You !!
Disclaimer : We are not SEBI registered analyst. Do your own research before taking any investment decision.
#PANACEABIO 165 Buy Recommended- Rachit Sethia PANACEABIO 165
NSE:PANACEABIO
TARGET 225
SL 135
Return 36%
TIME FRAME < 6 Months
RR > 2
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
ALKEM - Bullish Consolidation with VolumesNSE: ALKEM is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
#GUFICBIO #ZYDUSWELL #FORTIS #AARTIDRUGS #ALKEM #GLAND #BIOCON #GUFICBIO
NSE: GUFICBIO
CMP: 227
TP: 270
SL: 205
TF: <6m
RR > ~2 times
Return > 18%
GUFICBIO THYROCARE CNXPHARMA LUPIN SUNPHARMA SPARC DIVISLAB DRREDDY AUROPHARMA BALPHARMA GLENMARK SANOFI PFIZER BPLPHARMA MARKSANS BIOCON GRANULES IPCALAB LAURUSLABS NATCOPHARM GLAND ALKEM ZYDUSLIFE APOLLOHOSP FORTIS AARTIDRUGS ZYDUSWELL MAXHEALTH BAJAJHCARE
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia
#DIVISLAB #TORNTPHARM #ALKEM #AUROPHARMA #BIOCON #LUPIN #CIPLA #DIVISLAB
NSE: DIVISLAB
CMP: 3498
TP: 4200
SL: 3300
TF: <6m
RR > ~3.4 times
Return > 20%
THYROCARE CNXPHARMA LUPIN SUNPHARMA SPARC DIVISLAB DRREDDY AUROPHARMA BALPHARMA GLENMARK SANOFI PFIZER BPLPHARMA MARKSANS BIOCON GRANULES IPCALAB LAURUSLABS NATCOPHARM GLAND ALKEM ZYDUSLIFE APOLLOHOSP FORTIS AARTIDRUGS ZYDUSWELL MAXHEALTH BAJAJHCARE
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia
#BIOCON #LUPIN #DIVISLAB #ALKEM #IPCALAB #GRANULES #AUROPHARMA#BIOCON
NSE: BIOCON
CMP: 267
TP: 320
SL: 250
TF: <6m
RR > 4 times
Return > 20%
THYROCARE CNXPHARMA LUPIN NSE:CIPLA SUNPHARMA SPARC DIVISLAB DRREDDY AUROPHARMA BALPHARMA GLENMARK SANOFI PFIZER BPLPHARMA MARKSANS BIOCON GRANULES IPCALAB LAURUSLABS NATCOPHARM GLAND ALKEM ZYDUSLIFE
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia
#vimtalabs #ipcalab #lauruslabs #lalpathlab #guficbio #alkem#VIMTALABS
NSE: VIMTALABS
CMP: 461
TP: 560
SL: 410
TF: <6m
RR > 2 times
Return > 22%
THYROCARE CNXPHARMA LUPIN NSE:CIPLA SUNPHARMA SPARC DIVISLAB DRREDDY AUROPHARMA BALPHARMA GLENMARK SANOFI PFIZER BPLPHARMA MARKSANS BIOCON GRANULES IPCALAB LAURUSLABS NATCOPHARM GLAND ALKEM ZYDUSLIFE
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia
ALKEM LAB LTD Breakout after Rounding Bottom Formation.*ALKEM LAB LTD*
Time Frame: Daily
Observation:
* Rounding Bottom Formation on Daily Time Frame.
* Overall Pharma Sector is doing well.
Resistance/Target: 3595 3786 3947 4070
Support: 3158
ALKEM LABS, BREAKOUT!!!its gonna give a huge breakout. the stock is trading very low, and all it can go till 3677!!
BUY AROUND 3530 AVG @ 3440 TGT 3780/4020 /4350 SL BELOW 3340The company has given a steady growth from last 3 quarters and stock had taken a healthy correction from its high. Currently it is consolidating between 100 and 200 dma forming tripple bottom and is expected to give a good breakout
Alkem analysisALKEM looking week on charts . however future build up is netural for 14 oct 21 . 5 days data shows short build up. negative build in option chain huge build up of calls on open interest stats. negative on stock however waiting for monday first two hours of data for exact entry.
R-0041 ALKEM LAB BUY at CMP SL 2450 TGT 2600/2700It has already rally of 200 points from the low but still looks good for 2700 and supported by break out from a narrow range.
