Shravster

Glenmark Pharma Trading Idea || RR - 1:7

NSE:GLENMARK   GLENMARK PHARM
A triangle pattern can be seen in the formation. Likely to breakout sometime this week. Have picked a SL level which has been a resistance for the duration of the triangle. However, should there be a consolidation before the breakout, I may adjust the SL accordingly. Enter trade only when there is breakout WITH good volumes.

Buy above 509
T1 : 547
T2 : 278
SL : 498

Thanks!


P.S. The rough time stop loss I set on all my trade is about 20-30% of the time the pattern took to form. Be rest assured regardless of the direction my trading ideas proceed in, I'll update the idea to reflect the same.