Bravetotrade
Short

Glenmark: In Strong Downtrend

NSE:GLENMARK   GLENMARK PHARM
Stock is in a strong downtrend; had a fresh breakdown @ 592. Last closing @ 580.25; selling opportunity can be found either on pullback to 592 or on break below 576.
For this trade targets on the downside will be 555 and 536 -- where the stock may find some support.

Trade safe, stay healthy.
Hit like/comment if this information is useful.

Regards
Bravetotrade
Comment:
Comment: ...And the downtrend continues...
Comment: Short at 579.50 and same is my SL now.
Let's see, just sitting tight 🤘
Comment:
Comment: I ll cover above 577 with the idea of looking weakness again in this pullback.
Comment: Near 592 breakdown level. Weakness at this place would attract sellers.
Comment: weekly close somewhere near current price , above 600 or so, and then continuation will take it higher.

If that happens we ll surely see swift, sharper up move.
Comment: Last short did bring some fortunes, although not substantial. Stock came back; broke up the psychological 592 level and is staying above that level which is positive for bulls. But stock seems tired and so far there is no continuation above 605.

I would like to see further retest of 592 to confirm that the upmove is sustainable.

Any weakness at or below 592 again may attract short.

However, If there is a clean sweep above 620 -- buy on pullbacks should be the strategy.

This post will only be updated fro shorting opportunities.


if this stock break the level of 624 then surly it will go up
Reply
Bravetotrade Prasad123
@Prasad123, yes.
Reply
Good call...
Reply
@vanathi, thank you.
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