For last 3 trading days, Glenmark Pharma is not able to move upwards and is moving in the range of 310 to 341, on a daily chart, it has resistance at 330. To short for a target of 272 with a stop loss of 345
CNX PHARMA chart looks like it is in ending leg of wave 4. let see where it takes support & unfold wave 5.
Views are personal & educational purpose only.
Metropolis post its results on 6th Feb did meet with some heavy profit booking that dragged the prices lower by 150 points. However, the momentum in this counter continues to remain upbeat. The dip provided a good opportunity to some strong hands to reenter and quickly place the stock back in contention. On the charts we note that the trends post a steady...
Following Nifty ATH, other sectoral indices too are moving up, forming multiple bullish patterns.
Pharma sector which was once darling of investors, is attempting to catch up. Some of you might have experienced, how it makes wild moves. Pharma stocks are among most preferred ones, among FIIs, DIIs and HNIs.
I guess having exposure to the sector is a necessary...
Glenmark has shown a bullish reversal on the back of very large volumes. If this trend continues, it could possibly be the bottom for a long time to come.
Long can be initiated for a medium term trade.
CMP: 350.
Target 1: 500.
Stop Loss: 310.
