ALEMBIC PHARMA

 ALEMBIC CMP 806.7 Lot 550

The stock has fallen to a level of 800 that was a resistance in August 2015 and was crossed over in November 2020

After high of 1100+ it touched in Aug 2020, the price has retraced back to 800. From its high of August 2020 to CMP, the VP POC is 987

But after touching the high second time in December 2020, the VP POC till CMP is 780 indicating that much more trades happened in this second fall from 1100. This establishes 1100 as a significant resistance

If we check the VP from 2015 resistance level of 800 to the final break of the resistance in 2020 it shows the POC at 550 establishing it as a significant support

And since 2015 to CMP the POC is at 983 with significant volumes at 800 and 600

The strategy can be that

if the price crosses over 850 close, one can go long with SL of 800 and Target of 950-975

And

if the price crosses down 725, one can look at a short position with SL of 800 and target of 600