Disclaimer: This article is for informational purposes only and should not be considered financial advice. Stock markets are subject to risks.

Alkem Laboratories has caught the market's eye today with strong price action within the ₹5,130 - ₹5,150 support zone.

Technical indicators suggest renewed buying interest, with the potential for an upward breakout targeting the ₹5,650 - ₹6,050 range in the near to medium term.

The stock has shown resilience around its lower support levels, signaling possible accumulation by investors. If the momentum continues and broader market sentiment remains positive, Alkem could see a strong rally.

A breakout above ₹5,150 with sustained volumes might confirm a bullish trend, attracting short- to medium-term traders aiming for the ₹6,000+ mark.

Traders may consider keeping a close watch on this counter, especially during intraday dips. However, it's important to maintain a proper risk-reward strategy and keep stop-losses in place.