Analyzing Glenmark on a follower's request. Glenmark is current trading in a range where the upper level is 925 and lower level is 840. No trade until the stock breaks the range. If it breaks the support trend line on the downside, much lower levels can be seen.
To motivate us, Please like the idea If you agree with the analysis.
The Scrip is trying to move out from a range after almost 5 months of consolidation, The Scrip was on a LL pattern on monthly/weekly chart but looking like it is about to break the trend.
For Swing traders
Can initiate longs once price sustain above 410 for a target target of 40 points, SL below 410 on Day closing basis,
#Note - The idea is shared for...
#NSE:GLENMARK formed Beautiful symmentrical triable and given BO.
Sustaining above trendline/400, may show very good momentum.
SL for safe players can mark 383.
*Only for Practice.
Glenmark Pharmaceuticals Ltd - 27.05.2022
The stock is trading @ 398 levels
There is a HAMMER & DOJI in Weekly Charts
The prices are below EMA
There is a HAMMER & DOJI in Daily Charts
There is a STOCHASTIC Bullish Divergence in Daily Charts
Let the prices go above 414 to initiate a BUY Position with support @ 376
watch out for the price action