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 trade ideas
TA and FA reason to go long on alkemThe fundamental reasons is their is no bad news regarding the alkem company and in this month company apply the certification for the pharmacal drugs related to diabetes and according to gimini it got approved by the us gov.
and i found the artical on ecnomic times that the institutional investor meeting will be held on 2nd dec. tody is 1dec night in canada.
Technical reasons are:
1.golden fib zone is below the the price, i.e, price bounce from that zone
2. price near 200 ema
3.touching to the main TL as a resistance
4. fibo is 50-60% from last swing
5. Unusual High volume at support,
SL Liquidation i assume
6. Sector TA is in channel, near lower line.
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 LABORATORIES LTD S/R for 10/9/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Alkem BreakoutAlkem has shown proper signs of good upside move.
Stock has broken above its consolidation of 6 months and ready to continue with its upside movement.
Expected move is about 20% above 5600.
Strict Sl at 5580-5600.
(Disclaimer: Stock Analysis is purely for educational purposes. it is not and investment or trading advise.)
Alkem Lab next target 6000 Alkem Lab will see very good bullish momentum in the coming sessions, the stock may even touch the target of Rs 6000. The stock has made a good base and a good breakout has been seen in the stock chart. The stock is pointing towards bullishness on its monthly, weekly and daily charts.
ALKEM1. Anything can happen.
2. You don't need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge. No other thoughts
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.
ALKEM LAB BREAKOUTAfter a solid consolidation phase, the stock has broken out and posted a strong breakout candle. Given the current market conditions, it's challenging to define a precise risk level, but setting a stop loss just below 4900 would be a wise choice
Review and plan(stocks to watch) for 30th May 2024 Nifty future and banknifty future analysis and intraday plan in kannada.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
ALKEM 1Hr1. Nice cup pattern is observed
2. Wait for the handle pattern
3. After the breakout we can see a good move.
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I Am Not SEBI Registered Analyst. All Post and Levels Posting is only for educational and knowledge purpose. I Am not responsible for your any kind of loss or profit.
No Claim, All Rights Reserved.‼️
ALKEM ready for next movealkem has tested weekily demand and now has shown upside strength also it has good closing and another demand has been respected. as per my study it should start moving upside if entry triggers.
entry sl and target already plotted on chart
Falling wedge on ALKEMALKEM formed a falling wedge pattern on daily chart. There was a strong run up in price prior to formation of wedge pattern. Multiple support and resistance were tested before the breakout. However, the breakout did not have huge volume. Wait for following day close to see how the price moves before you enter. Stop loss can be had just below previous swing low with target the broader size of the wedge.
If you like this idea please boost this idea or leave a comment down on what you think. I'll be glad to hear from you. Otherwise, happy trading :-).
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.
Alkem ShortTerm LongBuy Alkem above 5083
Target of 5132-5182-5481
SL 4982
Strategy : SBO + RSI > 60 + EMA above 20 & 50
Duration few days
Please consult your financial advisor before investing
All research for educational purposes only.
ALKEM looks bullishALKEM is looking bullish. Recently, it broke the resistance with significant volume. If it retests level 4070 and continues the uptrend, it would be a perfect entry to trade ALKEM for a short position. The Monthly and Weekly RSI is above 60, which shows bullishness. Volume is noticeably increasing & stock has been in an uptrend for a longer time frame. If we measure the cup depth, it would be the target on the upside (5300 levels - 30 % from the breakout levels). More than 2 RRR.
ALKEM LAB: Nearing to ATHALKEM LAB 10% away from it's All Time High. Good fundaments and do research by yourself before making entry
Triangle pattern breakout in ALKEMALKEM LAB LTD
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakout of triangle Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 3820+.
✅Can Go Long in this stock by placing a stop loss below 3620-.
ALKEM - Looks good for short termIf we carefully analyse the 1 hr tf of Alkem, it looks good above 3460. It will shoot upto 3640 immediately .
