Alkem rebounds from support, but cloud still caps it

has bounced sharply from the ₹5,100 to ₹5,160 support band, with price recovering to around ₹5,348. The rebound is notable because that lower zone has acted as support before, but the stock is still trading below a heavy Ichimoku resistance cluster. The business itself remains anchored in domestic branded formulations, chronic therapies and a meaningful US presence. That gives Alkem a relatively defensive earnings profile, but the chart is still in a transition phase rather than a clean uptrend. The Tenkan sits near ₹5,206, while the Kijun is around ₹5,293. Price has moved above both, which is the first positive sign. The bigger hurdle is the cloud, with resistance stretching roughly from ₹5,250 to ₹5,470 and a visible supply zone around ₹5,550 to ₹5,600. My reading is that the bounce has improved the setup, but confirmation is still missing. A sustained move above ₹5,470 would strengthen the case for a larger recovery toward ₹5,550 to ₹5,600. If the stock slips back below ₹5,200, the recent rebound would start to look like another failed attempt. For now, this is a recovery setup, not a confirmed breakout.