Glenmark Pharmaceuticals (weekly) staying above 395 level, it will give good breakout. A journey toward 500 level.
Glenmark has shown a bullish reversal on the back of very large volumes. If this trend continues, it could possibly be the bottom for a long time to come. Long can be initiated for a medium term trade. CMP: 350. Target 1: 500. Stop Loss: 310.
Taking support after breakout on 18th November is a good sign confirming the institutional presence in the stock. The stock is now setting up tone for a strong move up with supporting volumes and momentum. The RSI is positive into the bullish zone and MACD well above the neutral zone with positive bias. Longer term targets are close to 485 levels!
Today #Glenmark is showing strong volume, It can reach 416 in near term.
More upside can be expected in coming sessions
GLENMARK (Glenmark Pharmaceuticals Ltd) BUY ABOVE 301
GLENMARK (Glenmark Pharmaceuticals Ltd) SELL BELOW 360
GLENMARK (Glenmark Pharmaceuticals Ltd) SELL BELOW 381
Sell 414 SL 416 Targets 412, 410, 408, 406, 404, 402, 400 OR GLENMARK AUG 410/400 PE (14.30/10.05)
GLENMARK (Glenmark Pharmaceuticals Ltd) SELL BELOW 409
I have observed that there is a divergence in the RSI oversold area and today's Bullish Engulfing could offer a good trade with small risk. One can trade the stock as under Entry current Price 425 SL 405 Target 497 Risk/Reward Ratio 4.4 Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
lupin looks good and is set for another atleast a 5% run to the least in coming days is in my buy on dip list with mentioned stop loss !
GLENMARK (Glenmark Pharmaceuticals Ltd) BUY ABOVE 453
Trade Nivesh Trade Plans: Sell Below 451.4 with the stop loss of 463.55