No1Mad
Long

Glenmark: Buy: above 420, Target: 467, Stop loss: 398.

BSE:GLENMARK   GLENMARK PHARMACEUTICALS LTD
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.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out