Glenmark: Buy: above 420, Target: 467, Stop loss: 398.
Buy: above 420, Target: 467, Stop loss: 398.
Only buy if it breaks the 412 level with a clean candle.
The stock should go up based on following parameters:
1) Fundamentals: Launch of Covid-19 drug
2) RSI: General uptrend because oscillator is hovering above 50 for quite some time
3) The stock has touched daily resistance level 3 times. So, resistance 412 has become weaker.
4) The 20 day EMA is acting as good support
5) Fibonacci: If it breaks upwards the resistance level of 412, then the next resistance/target could be 467.
6) If it is not able to break the daily level, then either it could consolidate at this resistance or come down, But this very unlikely.
Only buy if it breaks the 412 level with a clean candle.
The stock should go up based on following parameters:
1) Fundamentals: Launch of Covid-19 drug
2) RSI: General uptrend because oscillator is hovering above 50 for quite some time
3) The stock has touched daily resistance level 3 times. So, resistance 412 has become weaker.
4) The 20 day EMA is acting as good support
5) Fibonacci: If it breaks upwards the resistance level of 412, then the next resistance/target could be 467.
6) If it is not able to break the daily level, then either it could consolidate at this resistance or come down, But this very unlikely.
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