**⚠️ ALKEM LABORATORIES – Bearish Pressure Continues! 🚨**
🔍 **Breaking Support – More Downside Ahead?**
ALKEM has been in a strong downtrend, breaking below **major support at ₹4,763** and currently trading near the critical level of **₹4,606**. A failed attempt to recover above Fibonacci retracement zones suggests further weakness.
📉 **Why More Downside is Likely?**
✅ **Struggling at Key Fibonacci Resistance Levels (₹4,963 - ₹5,127)**
✅ **Failure to Hold ₹4,606 Could Trigger More Selling**
📊 **Key Levels to Watch:**
🔹 **Resistance:** ₹4,763 (Fibonacci 0.236) & ₹5,071 (Fibonacci 0.618)
🔹 **Support:** ₹4,606 (Major Support) & Lower Levels if Breakdown Continues
💡 **Trading Plan:**
🔻 **Rejection at ₹4,763-₹4,860 = Bearish Continuation**
🔻 **Break Below ₹4,606 Could See ₹4,400 or Lower**
🔻 **Recovery Above ₹5,000 Needed for Trend Shift**
🔍 **Breaking Support – More Downside Ahead?**
ALKEM has been in a strong downtrend, breaking below **major support at ₹4,763** and currently trading near the critical level of **₹4,606**. A failed attempt to recover above Fibonacci retracement zones suggests further weakness.
📉 **Why More Downside is Likely?**
✅ **Struggling at Key Fibonacci Resistance Levels (₹4,963 - ₹5,127)**
✅ **Failure to Hold ₹4,606 Could Trigger More Selling**
📊 **Key Levels to Watch:**
🔹 **Resistance:** ₹4,763 (Fibonacci 0.236) & ₹5,071 (Fibonacci 0.618)
🔹 **Support:** ₹4,606 (Major Support) & Lower Levels if Breakdown Continues
💡 **Trading Plan:**
🔻 **Rejection at ₹4,763-₹4,860 = Bearish Continuation**
🔻 **Break Below ₹4,606 Could See ₹4,400 or Lower**
🔻 **Recovery Above ₹5,000 Needed for Trend Shift**
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.