💊 Alembic Pharma – Range Bound, Testing Upper Band

1️⃣ Multi-Year Channel Structure The stock has been moving within a well-defined rising channel since 2014. Multiple touches on both support and resistance lines reinforce its credibility. 2️⃣ Volatile Mid-Zone Action Between ₹650 and ₹1100, price has repeatedly seen volatile swings over the years. It has failed to sustain breakouts beyond the upper band and witnessed deep corrections. 3️⃣ Current Price Action 📍 Trading near ₹1030, just below upper channel resistance 📏 Strong breakout level at ₹1026 now acting as a pivot 🟥 Horizontal support: ₹866 A rejection here could lead to a pullback, but a strong weekly close above ₹1100 could open upside towards ₹1250–₹1300. 4️⃣ Cyclic Basing and Recovery Each deep correction has been followed by sharp rallies off channel support—indicating accumulation. The recent move from ₹650 to ₹1030 continues this pattern. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.