Glenmark daily chart is showing strengths followed by breaking falling resistance trendline and giving breakout on relative strength indicator too it is looking like that consolidation phase is over and get ready for further up moves in it that is why I am adding Fibonacci retracement indicator for helping coming resistances and targets too it is looking little complicated but once you will see carefully you will find the research which I want to mention in it..
Cause of Long-:
1- Falling resistance trendline breakout..
2- Relative strength indicator breakout..
Trade active
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RETRACEMENT 0.236 PRICE 427 ACHIVED
Comment
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NEAR TO RETRACEMENT 0.382 PRICE 476
Comment
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RETRACEMENT 0.5 PRICE 517 ACHIVED FROM 403
Trade closed: target reached
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ALL FIB RETRACEMENT TARGET ACHIVE CMP 788 FROM 422 GAINED 86%, IDEA CLOSED NOW