Alembic Ltd. was in a consolidation preceded by the rally. The counter experienced the consolidation for 6 months. It can be easily seen that the consolidation has descending resistance line and ascending support line forming the price pattern called Symmetrical Triangle, During the pattern formation, the support line was tested twice and the resistance line was tested thrice Finally the daily candle on 23rd March 2021 give the decisive breakout to the resistance line and closed at Rs.113.40. This breakout is also supported by the massive volume. I estimate the first price target at Rs.140 and suggest the stop loss at Rs.105 for the first 5 daily candles. Thereafter, the profit booking/ exit decision should be taken on the negative crossover of 26 EMA line by 5 EMA line. The target is expected to be achieved in a time period of 45-60 days.