Alembic Ltd
Cmp---94.45 on 13.12.2023
ATH--143. 30
Support-----88.90/87.60/84.20/79.75/77.90/75.75/74.15/
Resistance. ------- 97.50/100/102.80/110.40/112.40/114.50/122.80/125.70/139.50/143.30.
Technically looking good for the continuation of up move. Please note that sustain close above 100 will put it on the strong up momentum track and if it moves above 125.70 and sustain on the closing basis then it could retest it's all time high of 143.30 or may go beyond it also and finally if it moves above 143.30 and sustain on the closing basis then it could head higher to 151/167/177/198/211/286/306. Moving down the worst price for the stock could be in the range of 80---76 but if it has the strength it should not break 86. The stop loss should be 74.50.
It is suggested that one can invest in stock now or on decline but not below 86 for a 45--50% or more gain in 8--12 months.
Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.
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Thank you for sharing your views.