Recent Price Movement and Market Context
On 01-Feb, Alkem Laboratories Ltd’s shares fell by ₹96.65, marking a 1.7% drop by 8:43 PM. This decline is part of a broader short-term weakness, with the stock having lost 3.1% over the past four consecutive trading days. The intraday low touched ₹5,513.95, representing a 2.8% dip from recent levels. This underperformance is notable when compared to the sector, as the stock lagged by 1.23% on the day.
Despite this short-term softness, the stock remains above its 200-day moving average, signalling that the longer-term trend is still intact. However, it is currently trading below its 5-day, 20-day, 50-day, and 100-day moving averages, indicating some near-term selling pressure and potential resistance levels that investors are wa...
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