Alembic Pharma-Bullish view- Short to Medium term analysis NSE:APLLTD
09.09.2024
Buy-1203
Target 1- 1282
Target 2-1575
Stop Loss- 1020
Risk Reward- 1:2
Holding period- 3 to 6 Months
Very good fundamentals along with below technical analysis
1.Inside bar breakout in weekly TF
2.Trend- Continues uptrend from last one year
3.Price has taken retracement at very strong key level
4.Gradual increase in volumes.
5. Very strong rejection from FVG
Alembicpharma
Sell AlembicAlembic Pharma weekly chart shows
RSI about to dive out of ascending trendline, signaling a continuation of the larger downtrend.
MACD about to flip bearish again
Lower highs on the price chart + support of 61.8% Fib under risk of being breached.
Sell at 705 target 678-663 stop above 725