--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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yeah i also observed that... will buy at retracement or pullback at 515
ReviveTraders
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@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
Debmitra
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@tradethetip, yup , would love to share my analysis with you :D