TradeTheTip

Glenmark | Flag Pattern , Trendline & Range Bound Breakout

Long
NSE:GLENMARK   GLENMARK PHARM
NSE: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 !

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Comments

also check that 22 june 2020 candle there was a long wick rejection near that area... so buy only after 1 hr candle confirmation
+2 Reply
TradeTheTip Debmitra
@Debmitra, sure ....thank you🙂
Reply
yeah i also observed that... will buy at retracement or pullback at 515
+2 Reply
TradeTheTip Debmitra
@Debmitra, ohhh ....you are a trader who buy after retracement that's gives a really good R:R also minimize the risk ...keep analyzing & keep up the good work
+3 Reply
Debmitra TradeTheTip
@TradeTheTip, yup , would love to share my analysis with you :D
+1 Reply
TradeTheTip Debmitra
@Debmitra, surely ...lets's grow together
Reply
great👍 I also observed it but it's in strong resistance area and it might be range bounded. But news flow is good
+2 Reply
TradeTheTip prashantangadi
@prashantangadi, thank you ....keep analysis the great stocks
Reply
sir .....its good analysis
+2 Reply
TradeTheTip cautiousCockat10189
@cautiousCockat10189, thank you very much ....we appreciate all your comment
Reply
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