Intraday Trade Idea: Buy Alkem Labs Above ₹5,400, Says SEBI RA Akhilesh Jat

Pharma stocks were among the prime focus sectors of Wednesday’s trade, with several names rallying on renewed investor interest.

Alkem Laboratories is one such pharma stock, climbing over 6% in the past month, reflecting sustained momentum and technical strength.

SEBI-registered analyst Akhilesh Jat observes that Alkem Laboratories has demonstrated technical strength by breaking out from an Inverse head-and-shoulders pattern, a classic bullish reversal signal in technical analysis. 

The stock is currently trading near the psychological barrier of ₹5,400, which also aligns with a four-month high, suggesting heightened investor interest and momentum. 

He added that a decisive move above the ₹5,400 level is likely to trigger further upward momentum, supported by positive technical indicators. 

Given this setup, Akhilesh Jat identifies an intraday trading opportunity with a buy recommendation above ₹5,400, a stop loss at ₹5,292, and a target of ₹5,508.

With the broader pharma index showing strength and Alkem's chart confirming a trend reversal, the stock is now firmly on breakout watchlists.

Alkem Labs shares have fallen 5% year-to-date (YTD).

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