Alpa Laboratories: Retest of Breakout Line with Strong RSI
Stock: Alpa Laboratories Ltd.
Analysis:
Alpa Laboratories is retesting its breakout line (uptrend resistance line) on the weekly chart, a critical level that could act as support. If demand emerges at this level, the stock has the potential to stage up to ₹144. and then later on more
Additional Strength Indicators:
RSI: Momentum remains strong, supporting a potential rebound.
LPS TSS Indicator: Buy signal triggered on the hourly timeframe, suggesting near-term bullishness.
Fundamental Highlights:
Quarterly Net Profit: ₹8 Cr, reflecting a 32.9% YoY growth.
FII/FPI Holdings: Increased from 0.36% to 0.74%, with the number of investors rising from 2 to 5.
Institutional Holdings: Overall increase from 0.36% to 0.74%, signaling growing institutional confidence.
Technical Setup:
Retest Zone: The stock is at a crucial support level, testing its breakout line.
Volume: Monitor for a rise in buying activity to confirm demand.
Trade Plan:
Entry: Near the breakout line retest zone with confirmation of demand.
Target: Pullback to ₹144.
Stop Loss: Below the support zone at ₹128 to manage risk.
Note: Strong fundamentals, improving institutional interest, and technical buy signals make Alpa Laboratories a promising candidate for a pullback trade.
Analysis:
Alpa Laboratories is retesting its breakout line (uptrend resistance line) on the weekly chart, a critical level that could act as support. If demand emerges at this level, the stock has the potential to stage up to ₹144. and then later on more
Additional Strength Indicators:
RSI: Momentum remains strong, supporting a potential rebound.
LPS TSS Indicator: Buy signal triggered on the hourly timeframe, suggesting near-term bullishness.
Fundamental Highlights:
Quarterly Net Profit: ₹8 Cr, reflecting a 32.9% YoY growth.
FII/FPI Holdings: Increased from 0.36% to 0.74%, with the number of investors rising from 2 to 5.
Institutional Holdings: Overall increase from 0.36% to 0.74%, signaling growing institutional confidence.
Technical Setup:
Retest Zone: The stock is at a crucial support level, testing its breakout line.
Volume: Monitor for a rise in buying activity to confirm demand.
Trade Plan:
Entry: Near the breakout line retest zone with confirmation of demand.
Target: Pullback to ₹144.
Stop Loss: Below the support zone at ₹128 to manage risk.
Note: Strong fundamentals, improving institutional interest, and technical buy signals make Alpa Laboratories a promising candidate for a pullback trade.
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Learn, Profit & Share
Join FREE Telegram channel: t.me/learnprofitshare
Ask Question on Twitter I research and reply: x.com/LearnPShare
Subscribe Youtube channel 4 FREE learning:
youtube.com/@learnprofitshare
Join FREE Telegram channel: t.me/learnprofitshare
Ask Question on Twitter I research and reply: x.com/LearnPShare
Subscribe Youtube channel 4 FREE learning:
youtube.com/@learnprofitshare
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.