The short -term perspective is optimistic for ALKEM laboratories. The action increased more than 4 percent on Wednesday, breaking above the 100 -day mobile average. It also confirms an inverted head and shoulder pattern in the table. In addition, the increase this week indicates that the bearish trend since September of last year has been reversed.
Support in the ₹ 5,100-5000 region can limit the disadvantage if there is an intermediate dip. The price of Alkem Laboratory shares can increase to ₹ 5,600-5,700 in next week. Merchants can spend a lot of time to ₹ 5,232.
Accumulate the dives in ₹ 5,150. Keep the Stop-Loss at ₹ 4,970. Remove the stop-loss to ₹ 5,350 as soon as the action rises to ₹ 5,450. Move the stop-loss up to ₹ 5,430 and ₹ 5,520 when the price of the action touches ₹ 5,500 and ₹ 5,580 respectively. Leave the long positions to ₹ 5,650.
Video Credit: Businessline
(Note: Recommendations are based on technical analysis. There is a risk of loss in trade).
Posted on April 24, 2025