Alembic ltd buy callEntry point :- 88
Stop lose :- 74
Target 1 :- 102
Target 2 :- 116
Target 3 :- 130
ALEMBICLTD
ALEMBIC LTD Weekly Double BottomAlembic Ltd has formed a double Bottom on weekly chart, Enter with little qty @ CMP and add on dips for the retest. Safe Buyers can wait for retest of the neckline and enter after confirmation.
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Disclaimer:I am not a SEBI Registered Analyst, and the views expressed here are solely my own and for educational purposes only. Make sure you consult your Financial advisor before investing, as I won't be responsible for any losses incurred.
Alembic looks for an arrival in the Bull marketAlembic Ltd. is engaged in the business of pharmaceuticals and real estate. Its core operation is manufacturing and marketing of APIs (active pharmaceutical ingredients) and construction and leasing of corporate & commercial properties. The company is also engaged in research and development in his pharma business. Alembic CMP is 69.20.
Negative aspects of the company are declining annual net profit & FIIs are decreasing stake. Positive aspect of the company is improving cash from operations annual, no debt, zero promoter pledge.
Entry in the stock can be taken after closing above 70. The short-term targets are 76 and 80. The long-term target is 87. Keep a stop loss at 63.
BUY : ALEMBIC LTDIts nicely making base on base. there was a shakeout 5 weeks back.Inside bars were seen in weekly charts couple of weeks back,after that prices have been stable. Good opportunity to enter again.
