theTradingSailor

Glenmark- LONG for med to long term

Long
NSE:GLENMARK   GLENMARK PHARM
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
Trade active: @ 470 I have bought part of my expected allocation for this stock, Will add more when it comes to 460-450
Comment: Added few more @ 454
Avg Buy cost now 462
Comment: 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.
Comment: Presently @ 1:2 risk reward.
Buy avg 462
Present price 524 (60 points+)
SL 430 (32 points)

I will exit part of my holdings.

Comments

Why is this stock soo much, absolutely no view
Reply
theTradingSailor psrarunisaimaran
@psrarunisaimaran, absolutely so much what,??
Reply
psrarunisaimaran theTradingSailor
@theTradingSailor, soo much confusion to get direction
Reply
theTradingSailor psrarunisaimaran
@psrarunisaimaran, that's obvious.. if we knew exact direction, it would be so easy to make money..

Here however there's a pattern formed(it's drawn in chart- some say pendant, some flag- for me it's a good consolidation pattern), mostly such patterns will give a continuation of the previous trend, here it was an uptrend, so hence, breakout will be mostly to the upper side.
Reply
psrarunisaimaran theTradingSailor
@theTradingSailor, thanks Ji for your advice words, holding stocks at 516 level!
Reply
Is 520 still possible?
Reply
theTradingSailor StockWhizzer
@StockWhizzer, need to wait for breakout patiently.
Bought the stock at lower levels not only to reduce SL, but also there's higher probability of breakout and continuation of pattern. If that's the case 580-585 also is possible,
if its a breakdown then good fall..
Reply
theTradingSailor StockWhizzer
@StockWhizzer, Hii.. Almost near your asked level.. :). Happyy..?
Reply
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