Gland Pharma is looking good after a double bottom on previous support
1. Risky traders can buy now with a stop loss of 3500 on closing basis
2. Safe traders wait for a close above 3770 on closing basis
Disclaimer: For learning purposes only
gland pharma follows the a clear downward trend and a previous support at 1 hr timeframe was the resistance now which was held at 3754 to 3803 now the parellel trend channel end was in that resistance only .one can buy this scrip if breakout sustained above mention level.
gland has been retracing using parallel channel since past few days. earlier the vertical move was in the shape of pole.
on higher time frame it is forming a Flag and pole pattern.
I will buy GLAND because :
It has been taking support
what was resistance now acting as support
So will be looking at buying opportunities.
Entry : 3530
Target : 4357
Stop loss : 3300
Gland Pharma Cmp 3608 dated 29.11.2021
TRIO Breakout
1. Triangle BO @ 3620.
2. RSI already had BO.
3. Volume BO
Buy above 3620 for a tgt of 3675-3735-3775-3825-3900
Ultimate tgt of 4225 SL 3480
It is just a view, pls trade at your own risk.
The stock has come into its key support levels or could further move towards its 200EMA. (3200)
Watch with caution and don't rush into entering it..if the stock is going to bounce wait for it to base properly. If you own it..if it falls below 3200 do not hold it coz then the cut will be much much sharper.
Gland Pharma is making a flag and pole pattern and might give a breakout of the channel very soon in coming days. When we see the Fibonacci it has taken support from 0.382 level. Let it break the channel and it may be a good stock to go LONG
There is unusually less action observed in Gland Pharma in Weekly Charts, and in Daily Time Frame it has taken Support in 50% retracement level, there is a high chance that it can give a huge brakeout on upside if the overall market supports it.
