Alembic Ltd – Inverted Flag Pattern Forming | Breakout Trade Set

Alembic Ltd appears to be forming a classic inverted flag pattern on the daily chart:

Bearish Flagpole: A strong and sharp downward move from ~₹148 to ₹88 established the flagpole.

Bullish Flag (Retracement Channel): Since March, the price has been moving in a parallel rising channel — a typical retracement phase.

The price is currently near the lower trendline of the flag, suggesting a potential entry point for a breakout trade.

Support zone : Around ₹100–₹101 near the lower channel boundary.

Target: ₹113–₹115 (upper boundary of the flag channel).

Stop-Loss: Below the lower trendline of the flag (~₹96), or tighter based on risk preference.


Bias:

Neutral to slightly bullish in the short term as long as price stays within the flag.

Watch for a volume-supported breakout above recent swing highs (~₹105) to confirm momentum toward the target.