Alkem Laboratories Limited has broken the rising trend up in the medium long term. This signals an even stronger growth rate. The price has also broken through the ceiling at 3568 of a rectangle pattern. A decisive break will signal a further rise to 4032 or more. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 3320 rupee. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the stock. The stock is overall assessed as technically positive for the medium long term.
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