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GLENMARK PHARMACEUTICALS LTD.

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GLENMARK trade ideas

Swing Opportunity in GlenmarkGo Long above 516.1 for Targets of 540.75, 565.4, 623.3, and 590.05 with SL 491.45 Reasons to go Long : 1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support around 0.382 Fibonacci level. 2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level. 3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up. 4. The stock may go till the supply zone (marked with red color) where it may face resistance. Our final target is just below this zone.
NSE:GLENMARKLong
by Nimish_Ghagare
3
[POSITIONAL] GLENMARK LONG BET risk: Reward ratio is 1: 2 Rest as per Charts ******** Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all. ======= I use shorthands for my trades. “Positional” - means You can carry these positions and I do not see sharp volatility ahead. “Intraday” -means You must close this position at any cost by the end of the day. ======= Always follow a stop loss. In the case of Intraday trades, it is mostly the “Low/High of the Candle”. In the case of Positional trades, it is mostly the previous swings ********
NSE:GLENMARKLong
by Palkesh_Agrawal
[ INTRADAY ] GLENMARK LONG BET risk: Reward ratio is 1: 2 Rest as per Charts ******** Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all. ======= I use shorthands for my trades. “Positional” - means You can carry these positions and I do not see sharp volatility ahead. “Intraday” -means You must close this position at any cost by the end of the day. ======= Always follow a stop loss. In the case of Intraday trades, it is mostly the “Low/High of the Candle”. In the case of Positional trades, it is mostly the previous swings ********
NSE:GLENMARKLong
by Palkesh_Agrawal
2