#GLENMARK : entry and exit levels on the chart (refer black/blue lines). Place SL@0.5% of the entry price. Zones (if present are in pink/orange) are the places where it's unsafe to enter. #INTRADAY
Well its not a prediction, its just asking for a review, whether i am on a correct track.
I have also use Fibonacci retracement with 10 MA , 20 MA, 50 MA and i think that Buy @ 550 with the target of 600 is possible.
Cadila looks to rebound from lower support levels.
Becareful as this is first rebound, thats the reason it has given for intraday trade.
If breakout above 533-534, it might reach 544 - 550 with stop loss of 525
Risk-Reward ratio : >1.25
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.
The stock was in a downtrend for a few weeks and now it is showing signs of reversal. Can be bought for 1st target of 580 and 2nd target of 630. CMP-529 and SL will be 495 on a closing basis. A 1:3 Risk Reward Ratio. HIT the like button if you liked my analysis and Do FOLLOW for regular swing trading ideas
Glenmark is standing near its very strong support currently and there is no reason foir the stock to correct further, the RSI is as low as 22, and i expect it to stand back strong to its previous high.
As We can see Glemarkpharma Taking Support At 200 EMA which is @550 Levels ,
if tommorrow or in coming Days It breaks Levels of 563 and sustain then we can See Good UpMove In it
So Keep eyes on GlenmarkPharma And On other pharma Stocks
GLENMARK PHARMA showing reversal sign by making higher highs at support zone - possibly making a trendline breakout - wait for it and then buy at retracement - 599.40 TG 616
After making a recent High of 690 Glenmark has fallen steeply to the support zone at around 575-590 levels.
There is a Trend line support at 581.80 and even today the trend line has provided support in making a Doji type candle signifying indecision by the traders.
Now we need a strong Bullish followup candle to make up our mind.
