Three drive pattern - Glenmark- Long traget 915-918 SL 840 Long

NSE:GLENMARK1D

GLENMARK PHARMNSE

Description

⋅ Apr 16, 2017 6:35 AM

Three drive pattern found in Glenmark. Go long with SL 840 for a target between 915-918

Trade closed: target reached

⋅ Apr 20, 2017 4:01 AM

Traget reached on 19-April-2017

Three Drives

Comments

tarunjune21

⋅ Apr 16, 2017 7:39 AM

Upside 918 - 888.8 = 29.2
Downside 888.8 - 840 = 48.2

ashwinkpes

⋅ Apr 16, 2017 9:06 AM

@tarunjune21, Yes...Thats a bit stetched....:) The reason is I found the pattern quite late and also the lowest green candle formed on 3-April-2017 is having a low of 846. And as per ideal pattern of 3 drives we need to keep the SL below the completion of the 3 drive i.e. in actual less than 830 which would be too much so just keeping it tag below the next candle .