Alembic Pharmaceuticals breaks out of consolidation!

Alembic Pharmaceuticals breaks out of consolidation Alembic Pharmaceuticals Limited (NSE: ALEMBICLTD) is trading around ₹850 after breaking above a tight consolidation range and a sloping trendline. Why it matters The breakout has been accompanied by strong volume participation, with recent volumes consistently building above the 20-day average. The stock is also trading above its short-, medium- and long-term moving averages. The technical setup is currently close to the breakout retest zone. This makes the ability to hold the breakout area important for the next leg of the move. Technical analyst Jay Mehta of JM Financial Services has published ₹900 and ₹999 as targets, with ₹786 as the stop-loss level. These are analyst-published levels, not my independent price targets. My view