Weekly Pick 2nd December 2024

ALKEM LTP 5631.15

  Alkem Laboratories hold a prominent position in acute therapy areas like Anti-infective, Gastro-intestinal, Pain Management, and Vitamins/Minerals/Nutrients. Their product lineup boasts well-known brands including Clavam, Pan, Pan-D, and Taxim-O, all ranked among India’s top 50 pharmaceutical brands. In the anti-infective sector, they have maintained leadership for over a decade, and are also a key player in the Indian trade generic market. Additionally, they are steadily expanding footprint in chronic therapy domains like Neuro/CNS, Cardiac, Anti-diabetes, and Dermatology.  

Technical Outlook

• ALKEM on the weekly chart is trading in a rising channel pattern in a higher high higher low formation.
• The stock on the weekly chart has formed a bullish hammer candle stick pattern near the lower band of the pattern.
• Momentum Indicator RSI (14) has witnessed a bullish hidden divergence on the weekly time frame.
• Stock has been trading above 50 EMA on the weekly chart maintaining the bullish momentum.

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