Glenmark | Flag Pattern , Trendline & Range Bound Breakout NSE:GLENMARK
positional Trading opportunity ! Weekly Chart Alert !!!
--Buy above =542.55
--Target = 688.25 ( 33.55 % )
--Stop-loss = 446
--Lot Size = 1150
--R:R = 2.50
--Expected Profit =1,98,000 ₹ per lot or 33 %
Technical Reasons to trade :- 🧢
1) Glenmark has bullish flag pattern Formation and breakout.
2) Range breakout trading .
3) Volume is more than sufficient i.e engulfing pattern & bullish candlestick pattern.
4) Uptrend Is continuing and Trendline break .
5) resistance is around 6858-733 .
Fundamental reasons to trade :-
1)Glenmark Pharmaceuticals to Redeem $8 Million Singapore-Listed Bonds
2)Glenmark Pharmaceuticals Gets US FDA Approval for Axitinib Tablets
3)Glenmark Pharma Gets Tentative U.S. FDA Approval For Axitinib Tablets
4)Dr.Reddy's Laboratories to Acquire Select Anti-Allergy Brands from Glenmark Pharmaceuticals
5)Glenmark Pharmaceuticals Lands Final USFDA Approval for Immunosuppressant
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