Glenmark- LONG for med to long term

Mar 7, 2021

Is it only my feeling?, that Glenmark will go up???.

Maybe, maybe not.

Fundamentally company looks good, also price action wise present price range seems good for a med term investment.

Buy around CMP
SL below 430
with a TGT of 585/ 675

Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
This is for a med to long term investment only, its not a positional or an intraday trade, as I used to do normally

Mar 8, 2021

Trade active

@ 470 I have bought part of my expected allocation for this stock, Will add more when it comes to 460-450

Mar 18, 2021

Note

Added few more @ 454
Avg Buy cost now 462

Apr 6, 2021

Note

Presently @ 1:1, still holding

494-500 is a mild resistance zone, if able to close above this on daily/ hourly candle then can expect a good upmove.

Apr 9, 2021

Note

Presently @ 1:2 risk reward.
Buy avg 462
Present price 524 (60 points+)
SL 430 (32 points)

I will exit part of my holdings.

Apr 15, 2021

Note

Now around 550 - a psychological level, there maybe a retracement possible.
If daily candle closes well above 550, then our 1st tgt can be easily reached within few days.

Apr 16, 2021

Note

Near TGT 1

Those in trade can start partly exiting when around 580-585 (TGT1)
Today already made a high of 576

Presently more than 1:3 Risk reward

I will be exiting slowly with a final of 25% remaining to exit aroung 600/TGT2

May 9, 2021

Trade closed: target reached

Very very late update- My apologies- I am back on Sailing so I am unable to post in realtime.

TGT1 hit- many days back :O

I have exited 75% of my holdings around 575-580 range.

Of the remaining 25% I will exit few around 600, remaining 650.

Jun 5, 2021

Note

With only 10% remaining, I exited the rest at 600.

Jun 28, 2021

Note

Closed my holdings on Glenmark @665.
Today's high 672.(3 points from tgt 2).