ALKEM
The stock is consolidating above its 100 days moving average and as we can see that stock is in consolidation phase from past 5 months. Breakout will be considered above 1910 level and target of 1950-1980 may achieved with a stop loss of 1870
- Consolidating around its resistance level of 1900
- RSI has also shown recovery and now placed at 61.96 level
- MACD has given upward cross over on Daily charts
Stock is moving in a particular channel from Aug 2017 and now it is consolidating on higher levels just below its trend line resistance level and RSI has also given trend line breakout. Currently the stock is trading at 510 levels and breakout will be considered above 515 and intraday target of 528-540 may achieved with a stop loss of 504.
- Consolidating around higher levels below its trend line resistance level
- RSI is placed at 52.61 levels.
- MACD has given upward cross over on Daily charts
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