Key Events This Week
Jan 5: Technical momentum shifts to mildly bullish
Jan 6-7: Strong price gains with rising volumes
Jan 8: Significant open interest surge amid bullish positioning
Jan 9: Week closes at Rs.5,800.30 (+3.96%) outperforming Sensex
Jan 5: Technical Momentum Shifts Amid Mixed Signals
On 5 January 2026, Alkem Laboratories closed at Rs.5,558.15, down marginally by 0.38% from the previous close, while the Sensex also declined by 0.18%. Despite the slight dip, technical analysis indicated a shift from a sideways trend to a mildly bullish stance. Daily moving averages turned positive, and Bollinger Bands suggested expanding price volatility in an upward direction. However, weekly MACD and KST indicators remained cautious, reflecting a nuanced momentum picture. The stock traded comfortably above its 52-week low and near its 52-week high, signalling potential for further upside.
Jan 6-7: Price Gains Accelerate with Rising Volumes
The stock rebounded strongly on 6 January, gaining 1.69% to close at Rs.5,652.25 despite the Sensex falling 0.19%. This positive price action was supported by a significant increase in volume, rising to 1,596 shares on 6 January and surging dramatically to 73,021 shares on 7 January. On 7 January, Alkem Laboratories advanced a further 2.44% to Rs.5,790.30, outperforming the Sensex which inched up 0.03%. The surge in volume and price confirmed the emerging bullish momentum, with delivery volumes on 7 January spiking by 481.66% over the five-day average, indicating strong investor conviction in the cash market.
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Jan 8: Surge in Open Interest Signals Bullish Market Positioning
On 8 January, Alkem Laboratories witnessed a notable 10.97% increase in open interest in its derivatives segment, rising from 14,934 to 16,573 contracts. This surge was accompanied by a trading volume of 8,425 contracts and a total derivatives turnover of approximately ₹8,468.40 lakhs, reflecting heightened market participation. The underlying stock price closed at Rs.5,796.65, just 1.35% below its 52-week high of Rs.5,868.00, demonstrating strong price momentum despite a marginal 0.41% decline on the day.
The stock outperformed its sector, which fell 1.05%, and the Sensex, which dropped 0.81%, underscoring its relative resilience. Trading above all key moving averages, Alkem’s technical indicators confirmed a sustained uptrend. The robust delivery volumes and liquidity profile support active institutional and retail participation, suggesting fresh directional bets likely favouring further upside.
Jan 9: Week Closes with Modest Gains Amid Market Weakness
Alkem Laboratories closed the week at Rs.5,800.30 on 9 January, up 0.06% on the day, while the Sensex declined 0.89%. The stock’s steady finish capped a week of strong relative performance, with a total gain of 3.96% compared to the Sensex’s 2.62% loss. The sustained price appreciation alongside rising volumes and open interest highlights the stock’s positive technical momentum and investor interest despite broader market weakness.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-05 | Rs.5,558.15 | -0.38% | 37,730.95 | -0.18% |
| 2026-01-06 | Rs.5,652.25 | +1.69% | 37,657.70 | -0.19% |
| 2026-01-07 | Rs.5,790.30 | +2.44% | 37,669.63 | +0.03% |
| 2026-01-08 | Rs.5,796.65 | +0.11% | 37,137.33 | -1.41% |
| 2026-01-09 | Rs.5,800.30 | +0.06% | 36,807.62 | -0.89% |
Key Takeaways
Positive Signals: Alkem Laboratories demonstrated a clear shift to mildly bullish technical momentum early in the week, supported by daily moving averages and bullish Bollinger Bands. The stock outperformed the Sensex by 6.58% over the week, closing near its 52-week high. A significant surge in derivatives open interest and delivery volumes indicates strong investor conviction and fresh capital inflows, reinforcing the positive price action.
Cautionary Notes: Despite the overall positive trend, some weekly technical indicators such as MACD and KST remain cautious, suggesting potential short-term volatility. The slight price decline on 8 January amid rising open interest may reflect profit-taking near resistance levels. The Mojo Score downgrade to 'Hold' signals tempered analyst enthusiasm, urging investors to monitor momentum indicators closely.
Conclusion
Alkem Laboratories Ltd’s performance in the week ending 9 January 2026 was marked by a robust 3.96% gain, significantly outperforming the broader market’s decline. The stock’s technical momentum shifted positively, supported by strong volume and derivatives market activity. While mixed signals from some technical indicators counsel caution, the surge in open interest and delivery volumes highlight growing investor engagement and confidence. The stock’s proximity to its 52-week high and sustained uptrend suggest continued interest, though market participants should remain vigilant for signs of momentum confirmation or reversal amid broader market uncertainties.
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