Glenmark | Flag Pattern , Trendline & Range Bound Breakout

Dec 7, 2020

GLENMARK
positional Trading opportunity ! Weekly Chart Alert !!!

--Buy above =542.55
--Target = 688.25 ( 33.55 % )
--Stop-loss = 446
--Lot Size = 1150
--R:R = 2.50
--Expected Profit =1,98,000 ₹ per lot or 33 %

Technical Reasons to trade :- 🧢

1) Glenmark has bullish flag pattern Formation and breakout.
2) Range breakout trading .
3) Volume is more than sufficient i.e engulfing pattern & bullish candlestick pattern.
4) Uptrend Is continuing and Trendline break .
5) resistance is around 6858-733 .

Fundamental reasons to trade :-

1)Glenmark Pharmaceuticals to Redeem $8 Million Singapore-Listed Bonds
2)Glenmark Pharmaceuticals Gets US FDA Approval for Axitinib Tablets
3)Glenmark Pharma Gets Tentative U.S. FDA Approval For Axitinib Tablets
4)Dr.Reddy's Laboratories to Acquire Select Anti-Allergy Brands from Glenmark Pharmaceuticals
5)Glenmark Pharmaceuticals Lands Final USFDA Approval for Immunosuppressant

Guys check out the related ideas as well, it will work really well GUARANTEED !

🙏FOLLOW for more !
👍LIKE if think is useful !
✍COMMENT Below your view !