GLENMARK- Relative Strength says Buy!

Attached: Glenmark/ Nifty 50 Weekly Chart as of 31st March 2023

This Relative Strength (Ratio) Chart clearly shows the Outperformance of Glenmark over Nifty 50 has Started!
The Ratio Chart has given an Inverted Head & Shoulders Breakout with this Week's Candle Close

If you compared Glenmark and Nifty 50 both on a Year To Date basis for 2023, then we get:
Glenmark= Up 9.56% YTD
Nifty 50= Down Down 4.12% YTD

What this Means is that:
Going forward expect Glenmark to keep Outperforming Nifty 50
Your Money is better off Invested in an Outperforming Stock instead of Index Nifty 50
Glenmark Pharma can be one of the Leading Stocks for 2023

This has clear BULLISH Implications for the Stock Price

Refer to my Related Ideas to see the Analysis of Glenmark's Price Chart which also has Bullish Implications like this Ratio Chart

Siddharth Bhansali

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