GLENMARK break the trend to enter the trade TP mention on the chart
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is...
the view is formed by studying various parameteres and thus i am holding a strong bullish view in the counter which may take it to the levels of even LT H in oming couple of days !
After more than 61.8% Retracement it is showing consolidation on the weekly chart.
This is a good time for long term investors with small stoploss at Support.
A breakout will take it upward.
DISCLAIMER: I AM NOT SEBI REGISTERED. CHART BEING UPLOADED FOR EDUCATIONAL AND STUDY PURPOSE ONLY.
Based on my PredictiveSystem's signals, its going to be a GREEN candle on 05-Jun-2018 for Glenmark
Buy Above: 541.4 for targets -
T1: 545.5
T2: 547.9
T3: 550.4
SL: 537.1
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before...
Scrip has formed a classical bullish wedge formation and the break out of the wedge is also supported with volumes
Low risk entry for indicated targets . Seems to be a good trade !
GLENMARK has been moving in channels to what seems the accumulation on the weekly timezone.
After a week long ranging , it broke above the 50 FIB level Currently taking resistance at 618 FIB. .Awaiting a breakout / reversal on account of results.
Pharma stocks have been doing ok for some time now.
Considering the fact that they were coming from dead, there was still a lot of skepticism around though.
Today pharma had a break out day that should covert the non-believers.
While the likes of DIVISLAB and AUROPHARMA has a day in the Sun, there are better bets out there.
GLENMARK here has just broken out and...
A move below 591 before the neckline breakout will negate the pattern.
Pattern will be in action above the neckline.
I Will be looking for breakout: pullback-retest-reversal (PRR) type entry..see post below to read on trading confirmations.
Also see..
For targets, one can try traditional as well as contemporary approaches..see post below on H&S...
Stock is in a strong downtrend; had a fresh breakdown @ 592. Last closing @ 580.25; selling opportunity can be found either on pullback to 592 or on break below 576.
For this trade targets on the downside will be 555 and 536 -- where the stock may find some support.
Trade safe, stay healthy.
Hit like/comment if this information is useful.
Regards
Bravetotrade
Glenmark Pharma has been trading in trend reversal if closed on symmetrical triangle which may go up breaking the triangle, buy above 895 after breakout with target 910 in near term.
On 28-11-16 Glenmark made evening star pattern suggesting Bears got upper hand,from there on its in downside below 20SMA may test its recent support i.e 859
