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.
Comment: 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.
Comment: 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
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.
Comment: With only 10% remaining, I exited the rest at 600.
Comment: Closed my holdings on Glenmark @665.
Today's high 672.(3 points from tgt 2).

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