Glenmark PharmaGlenmark Pharma - CMP 599
Breakout candidate with good volumes. If it sustains the breakout then can expect initial target of 650/700.
GLENMARK
Glenmark - Break happened - Towards targetPrice formed Ascending triangle pattern and breaks up in the last trading session. Price coming back for retest and it should reach the target in the coming week.
Breakout in Glenmark (Positional)...Good structure observed in Glenmark pharma
few days back observed descending tringle breakout in this stock with volumes
after breakout retest done and Moving average crossover(21 and 200) also happened
then given a good move now stock is under consolidation
volume was picking up in uptrend and drying up in consolidation
above 591
good support 541-530
Target 630--641--690
Glenmark Pharmaceuticals Ltd
Market Cap-- ₹ 16,275 Cr
Stock P/E-- 10.3
ROCE-- 11.1 %
ROE-- 10.6 %
Promoter + institutional holdings >81%
Glenmark - CMP: 568 Multiple BreakoutStock is in the bullish move. It has given Wedge Breakout on a longer time frame. It is also likely to break Flag Pattern. Overall we can expect a price target of 700 in Mid-Term.
Glenmark Pharma – Resistance Breakout above 531Stock has also broken out of Bearish Channel of 356 Points.
Target for same – 470+356 = 826
Fundamentally Stock can be valued at 776*30 ie 23280crs vs Current Market Cap of 15909 crs
Hence at 825 Rs Stock will be Fairly Priced
Technically Stock has broken and retested important Resistance level of 531. Hence more upside can be expected.
Long term Targets – 735, 940, 1154
SL – 514.85 (Weekly Close)
Duration -3 Years
Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
Breakout in Glenmark Pharmaceuticals...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
Glenmark - Breakout post accumulationNote: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a breakout post accumulation for last 190+ bars (approx. 1 year). Volumes are high which supports the breakout. Moreover, close price is near the high of the candle. RSI above 70 indicates high momentum.
SL: 460₹
GLENMARK is BUY worthy Break-OUTSl and Targets are mentioned on the charts.
Sector is in flavor. Glenmark's charts looks good for a mid-term Trade...with volume confirmation.
Keep Qty medium, SL on WCB. Buy and hold.
Disclaimer: I am not SEBI CERTIFIED yet, I just share my views on possible setups and I usually also trade the setups I share here.
Last Trade Idea shared on TRADINGVIEW, SWSOLAR is still running and in good profits...
Glenmark above 541Glenmark has broken out of the channel as expected. If it sustains above 541, there may be a sharp up move to 570-600 levels.
Glenmark Is at minor resistanceLogic
1) Minor Trend line breakout
2) Price is at minor resistance
3) Stock manages to close above its 200 moving average after a ling time , so I hope for a up move from here
Glenmark After 4 Years 200 SMA Broken On WFStock Of The Month - Glenmark
Buy On Monday
Closing Price - 529.65
Strict SL - 435 (Weekly Closing Basis)
Target - 700/900
Glenmark in an uptrendGlenmark is breaking out of the channel pattern on a daily time frame. Breakout happened with a good 6% increase. Can increase 10% from here in the short term.
Glenmark After a long time It has came out from consolidation stage. Expecting good movement ahead. Likely to reach target of 580 in short term, expecting bullish movement till 695.
