Glenmark Pharmaceuticals chart analysis for intraday and swing trading
Glenmark Pharma is on multiyear breakout. The next immediate target is 705. Weekly chart looks very promising for holding as well as for swing trade.
Stock looks good both for swing and intraday. For swing keep SL as 615 For any queries on chart (Fibonacci, Resistance zone, TL BO) please drop Qs in comment section
Glenmark showing strong support levels at 601-602. Enter if support holds, target 635+
Price touch monthly supply zone so might be do some correction. According to near untouched weekly demand zone we can get entry Entry-578.5 near about Profit-870-900 Invalid below- 530
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Glenmark Pharma - CMP 599 Breakout candidate with good volumes. If it sustains the breakout then can expect initial target of 650/700.
Glenmark bullish breakout of a 6 months range. Looks great for a long term holding.
NSE:GLENMARK
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,...
NSE:GLENMARK has upside to witness further after it broke all time high. The 45MIN chart here shows support area to which it will test its fall and reverse from the "Box of Price Reversal"
following cyclic lines since dec'20 careful might fall near 23 of april otherwise corona factor might dominate
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₹
Apart from the stocks and sectors mentioned in the video, I forgot to mention a few more stocks that I had shortlisted. They are, BAJAJELEC GLENMARK WIPRO The key levels to watch out for trading next session are mentioned in the video. Trade as per the levels mentioned after finding a suitable candle patterns at support and resistance levels. For the accurate...