Why this Trade..??
1.Broadening Triangle Pattern
2.Bearish Flag
Buy or Sell based on the Support Break with Volume
Disclaimer:This view is purely for educational purpose and it's my personal.Please consult your financial advisor before attempting any trade.We're not responsible for any loss or profits.
NSE:GLENMARK
as one can glenmarke on harmonic support, one can go long for swing trade with stop loss as per their trade setup.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade...
As you can see in the chart, Glenmark is testing 540 level, there is the strong Resistance at this point.
.
Many times stock reversed from this level, now again on stock reversed from 540,
.
So if stock goes above 540 on monday, you can buy this trade for target of 560.
.
What's your view on this comment below in the box.
.
Note: Maintain you stop loss as there...
Glenmark spot cmp 530
weekly time frame
Elliot wave study
Rising parallel channel structure
RSI with divergence
Inverted head and shoulder pattern
Rounding bottom formation.
all studies applying ,for long term view on chart,,
looks attractive seeing the chart
Lets see whats there in store..
Why this Trade..??
1.Broadening Triangle Pattern
Buy or Sell based on the Support Break with Volume
Disclaimer:This view is purely for educational purpose and it's my personal.Please consult your financial advisor before attempting any trade.We're not responsible for any loss or profits.
The stock is out of consolidation zone and has given a closing above its support levels. The stock is expected to rise further. The targets are shown on chart.
Glenmark can be a good bet in this recent fall due to new variants of COVID-19.
Rising volumes in last few trading session should also be noted.
Keep an eye in coming days.
NSE:GLENMARK
Support can be observed @ 470
Possible Targets:
1st: 538
2nd: 580
Correction is supported by 50 days SMA.
Volume has no major changes.
Before going LONG look at Volume and analyze.
Before taking any position analysis yourself.
long in delivery only above trendline and yes candle must not form with long upper tails watch out for this and target for long is 575 good luck
Our most harmonic pattern hit the target, it takes efforts to study technical analysis so if you like the idea, please share & like the idea thanks
Glenmark pharma preparing for breakout. Lower high lower low formation broken. Formed double bottom at support zone. About to breakout double bottom patter.
