Stock 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 bullish breakout of a 6 months range. Looks great for a long term holding.
Stock 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,...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart. Disclaimer: This is for demonstration and educational purpose only.
Note: 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₹
Sl 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, ...
Glenmark has broken out of the channel as expected. If it sustains above 541, there may be a sharp up move to 570-600 levels.
Logic 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
All details written in chart. It is for educational purpose only.
Stock Of The Month - Glenmark Buy On Monday Closing Price - 529.65 Strict SL - 435 (Weekly Closing Basis) Target - 700/900
Buy At Cmp 495 Strict SL - 478 Target - 550
CONDITIONAL TRADE IN GLENMARK IF CLOSES ABOVE 489 BUY@490 STOP@470 TARGET-1@510 TARGET-2@518 TARGET-3@525 QTY=YOUR CHOICE