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GLENMARK

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%
NSE:GLENMARKLong
by nikhilgodhani
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.
NSE:GLENMARKLong
by SagirKazi
5
GLENMARK Best RR Trade 30-45 daysI have been following Glenmark for quite some time now. Unfortunately with the wider market correction, Glenmark got the beating a little too much. However, since my responsibility is to share the trades with you that have the best Risk to Reward Ratio and that I personally take, I am sharing this with you. Please note, that SL is there for a reason. Typically a trade is taken based on certain patterns and chart formations, and on crossing the SL, the analysis becomes null and void. The only reason we held onto Hindustan Unilever is that our analysis was absolutely correct, however, the wider market wasn't unfavourable and hence moving the SL only by 1% further down made our trade eventually successfully. Do not unnecessarily remove SL unless you know what you are doing. Glenmark is around a strong demand zone that you can date back to August 2020. The stock is around this zone again, and recently the stock gave a breakdown in its demand zone. However, as I said above, this was because of the wider market correction and hence while I took the trade in the zone, I moved my SL a bit further down and wait for two consecutive closings. Today, Glenmark not only made an H&S inverted pattern on the demand zone like a honeycomb but also it eventually broke into the demand zone. This signifies the intent of the stock. Buy GLENMARK at Current Market Price Put your Stop Loss at 450 if you are trading in March Expiry or at 440 for positional cash trades. Your target for march expiry is just 470. For positional traders and next expiry, your targets are 480, 488, 500, 540, 555. With just 10 points SL, may the tendies be in your favour.
NSE:GLENMARKLong
by ShekharChatterjee
1