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Price and trend forecast of ALKEM for Tomorrow, Weekly, Monthly

Alkem Laboratories Limited


ISIN: INE540L01014


As on 2024-07-23

3,447.00 (52W Low) 5,578.80 (52W High)

ALKEM's Today's Performance

Alkem Laboratories Limited started the day by opening at 5,220.00 today 2024-07-23. Its shares reached a high of 5,239.10 and dipped to a low of 5,030.40 in intraday. When the markets closed, ALKEM’s stock price settled at ₹5,180.65 per share. Also check out its key support and resistance levels.

ALKEM Buy/Sell Targets

Tomorrow, sell ALKEM when its price reaches ₹ 5,180.65 with a stop-loss order at ₹ 5,267.71. You can set the target price as ₹ 5,093.59 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of ALKEM for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for ALKEM

Downside Targets Value in ₹
Tomorrow Down Target 1 5,270
Tomorrow Down Target 2 5,359
Tomorrow Down Target 3 5,478

Important Levels for ALKEM

Holding Levels Value in ₹
Tomorrow Up Target 1 5,061
Tomorrow Up Target 2 4,941
Tomorrow Up Target 3 4,852
Based on where the stock opens tomorrow, if ALKEM opens on a positive note, our first target will be ₹5,270. If Target 1 is achieved, we will aim for Target 2 which is ₹5,359.

But if ALKEM falls below the average value of ₹5,150.05, you can enter a sell side position with target number 1 - ₹5,061 and second target - ₹4,941 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of ALKEM

Looking at ALKEM, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, ALKEM has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for ALKEM is moderate bearish.

Tomorrow's Volume based share price Forecast for ALKEM

ALKEM's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -42%.

Reversal detection for ALKEM

Predicted trend chart of ALKEM tomorrow for price forecast
ALKEM may trend may continue to be bearish since stock is making lower low and we can get target of ₹5183 in morning tomorrow
Target 1 tomorrow5230
Target 2 tomorrow5279
Target 3 tomorrow5359

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with ALKEM's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if ALKEM opens on a positive note, our first target will be ₹5,269.70. If Target 1 is achieved, we will aim for Target 2 which is ₹5,358.75.

But if ALKEM falls below the average value of ₹5,150.05, you can enter a sell side position with target number 1 - ₹5,061.00 and second target - ₹4,941.35

ALKEM's Weekly Targets
1st Up Target 5,272.93
2nd Up Target 5,365.22
1st Down Target 5,059.38
2nd Down Target 4,938.12

As the week for ALKEM ended on bullish sentiments, we can expect further continuation of this sentiment. ALKEM's initial target will be 5,272.93 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 5,059.38 in the upcoming week.

Weekly OHLC Values
Open 5,130.00
High 5,243.95
Low 5,030.40
Close 5,180.65

Week for ALKEM started with an open price of 5,130.00, and the close was at 5,180.65. ALKEM reached the highest of 5,243.95 and dipped lowest up to 5,030.40 last week. This indicates a bullish sentiment for the week.

ALKEM full month swing targets
Monthly Up Target 1 5,486.48
Monthly Up Target 2 5,578.77
Monthly Down Target 1 4,845.83
Monthly Down Target 2 4,511.02

Targets of ₹5,486.48 can be expected to be reached in the coming month. Once ALKEM achieved this target, we can aim for the next upside target of ₹5,578.77.

ALKEM if fails to hold upside, down targets of ₹4,845.83 and ₹4,511.02 can be achieved by end of this month.

For complete three weeks if ALKEM is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as ALKEM

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APOLLOHOSP Apollo Hospitals Enterprise Limited Medical Care Facilities


ALKEM is expected to reach the target of 5,269.70 in tomorrow's trading session.

After achieving the initial target in ALKEM, we will aim for higher targets of 5,358.75 tomorrow.

However, if ALKEM starts to trade below ₹5,150.05, then we will shift our focus to the sell side and aim for down targets of 5,061.00 and 4,941.35.