RADICO KHAITAN : NEW 52 WEEK HIGH POSSIBLE !?!

Radico Khaitan Ltd. 

This sector has been talking point and has seen good action in last couple of weeks.
Looking to the chart structures of stocks, i believe positive momentum likely to continue ahead aswell.
Among this space, Radico Khaitan is one such stock looking attractive on charts.
The chart attached below displays the stock has been trading in sideways channel band from last more than One & Half year.
The stock price finds selling pressure near high end of the range. While finds support near lower end of the range.
Recently, stock again finds support and reversed taking support near lower edge of the channel range.
This week price has registered breakout from the Middle range trendline with above average volumes.
Aswell, the oscillator added in lower panel has turned positive from negative. (Green to Red) indicating price breakout likely to hold and price to head higher to test higher end of channel range.
The above mentioned view holds true till price does not close below middle line (Red dotted line).

RADICO (W)
Click to enlarge 

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ALKEMLABS : ATTRACTIVE CHART SETUP

Alkem Labs

The pharma related stocks are in buzz from last couple of months.
This stocks has yet to participate and has underperformed compared to its peers.
However, the chart setup now looks like the stock is getting ready to move northward.
The chart attached is Daily line chart.
The stock has been trading in Multi week Ascending channel and has formed peak and troughs near the channel lines.
Recently, stock has reversed finding support near the lower end of range.
Post that now stock has witnessed breakout from declining trendline with supportive momentum in place.
The lower panel displays MACD bullish crossover with RSI breaking trendline resistance which hints strength and momentum in price.
However, in medium to long as per pattern if lower trend support holds well price has potential to inch higher to challenge higher channel line.

AlkemLab (D)
Click to Enlarge 

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