Alkem Laboratories Limited has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the stock is indicated. The price has also broken the resistance at 3327 of a rectangle pattern, which signals a further rise.
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The stock has support at rupee 3310 and resistance at rupee 3660. The stock is overall assessed as technically positive for the medium long term.