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.
Happy Trading!
InvestPro India
GLENMARK PHARMA is showing inverted Head and Shoulders Pattern Breakout on Monthly chart. Chart Pattern is 70% success rate and if it is show on higher timeframe success rate increase.
CMP : 690
TG : 1180
SL : Below 21 EMA
Stock's selection based on 5 Point Analysis:
1: Idea : Breakout.
2: Support : Volume, Delivery & VWAP.
3: Technical :...
share name : glenmark pharma
call type : poistional or investmnet
- share is forming a diamond pattern
- head and shoulder on bigger time frame
- a good consolidation can be seen for the level
of 540 - act as a huge resistance
- we can accumulate this share at level 490-480-
470 with sl of 450
- approchable targets 700,1000, 1200 ++
thanks
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...
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
NSE:GLENMARK
Support can be observed @ 470
Possible Targets:
1st: 538
2nd: 580
Correction is supported by 50 days SMA.
Volume has no major changes.
Before going LONG look at Volume and analyze.
Before taking any position analysis yourself.
Target:- 740
Stoploss:- 510
By analysis of the chart of Glenmark Pharma , we can easily see that stock has already take support on the support line and shown bullish candle. So we can enter in this point.
RSI also in oversold position, and directing upward.
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₹
SHORT STRATEGY
when price breaches 455.20 levels confirm it with retest then enter the trade.
exit - 407
(there is support level at 407 - if bears are still strong with increasing volume then hold it till you see otherways)
FUNDAMENTALS - glenmark fake rumor on covid vaccine had increased the price of the share drastically, later there was a correction in...
Monthly chart -
Target 675 - 740
1. Price Volume breakout over trendline.
2. MACD positive cross over
3. RSI down trendline is broken on the upside.
4. RSI and William at favorable values supporting a BUY.
GLENMARK IS STRONGLY FOLLOWING TRENDLINE SUPPORT WITH RESISTANCES CAPPED AT 437 AND 458.THE ARROWS PERFECTLY CAN TELL US WHAT CAN BE THE SCENARIO FOR TOMORROW.
