GLENMARK trade ideas
Glenmark - Keep it in watchlist.Glenmark in rising channel . Looks like good accumulation since August. At good risk reward
near breakoutAFTER BREAK OUT
GUD UPMOVE CAN BE SEEN.
LONG CONSOLIDATION
NO Recommendation
ALMOSTSAME GUJRATALKALI
GLENMARK Pharma looks good !!!!GLENMARK : cmp: 485.8
looks good .BO done above 480 zone.
Good to grab here or some minor dipps
Posiible TGT 500.75/506.25/515.85
Positional TGT 542
Sl 472 clbs
Let's see what happens....
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
Glenmark Looks good at this levelsGlenmark looks good at this level for 480+ short term target.
+ Below seems restricted to 464.95
+The chart is clear indication of short term target.
Please note this is for only educational purpose. Trade with your own risk and not basis the idea shared here.
Glenmark- LONG for med to long termIs it only my feeling?, that Glenmark will go up???.
Maybe, maybe not.
Fundamentally company looks good, also price action wise present price range seems good for a med term investment.
Buy around CMP
SL below 430
with a TGT of 585/ 675
Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
This is for a med to long term investment only, its not a positional or an intraday trade, as I used to do normally
GLENMARK 1D TF Glenmark is at it's Key support, A bounce from here can fetch upto targets for 480-500.
Descending Triangle patternGlenmark moving in descending triangle pattern
1) If stock break tredline keep long
2) If stock break the support keep short.
Glenmark -preparing for BreakoutThe chart describes everything in itself
Buy around ₹450-460 with strict stop loss at ₹440 on closing basis for a SHORT TERM Target of ₹500/520
Risk/Reward looks interesting here
GLENMARK is brekout coming?GLENMARK PHARMA is at the adge of its weekly Trend Line breaout. Good upside momentum can be seen on positive breakout. Keep close watch.
Glenmark buy around 460 levelsBuy Glenmark for Positional around 460 levels as it is on Strong Fibo Level 61.8 on daily charts
Glenmark Looks weak, Breakdown expexectedAll observations on chart.
Taking support around same levels, now recently made a new high then again started testing the support with lower highs.
This indicates buyers are trapped and support is weakening
Don't attempt a breakdown trade.
Expecting a breakdown in few days.
#Glenmark cash : Looks good above 470.10#Glenmark cash -Positional call
23.02.2021
Looks good above 470.10
Stoploss 460
Target 484-485/498
cmp 466.45
GLENMARK possibility of breakout (support level) SHORT STRATEGY
when price breaches 455.20 levels confirm it with retest then enter the trade.
exit - 407
(there is support level at 407 - if bears are still strong with increasing volume then hold it till you see otherways)
FUNDAMENTALS - glenmark fake rumor on covid vaccine had increased the price of the share drastically, later there was a correction in price. glenmarks recent quater result were not imperessive due to wish there was selling pressure in market.
GLENMARKPHARMA - TriangleTriangle forming on Daily Chart of GLENMARK PHARMA. BUY or SELL accordingly after analyzing on lower TF. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
Time to decideGlenmark is making lower high lower low pattern from 2017 on monthly chart
Every since it didn't try to change its pattern.
During the Mar'20, it formed a new low.
It tried to alter it's pattern by breaking the previous low in June 20.
However, it didn't happen and since then it is near the previous lows only.
Now is the TIME TO DECIDE whether or not the market is going alter the GLENMARK's pattern
Reason Being:
1) Fundamental -
- PE of Glenmark is 17.53 while the sectoral PE is at 41.03 which clearly indicates that the share is trading at cheaper levels.
- Over the last 5 years, revenue has grown at a yearly rate of 10.13%, vs industry avg of 7.29%
- Over the last 5 years, net income has grown at a yearly rate of 29.93%, vs industry avg of 3.94%
- Q3 results are really good showing a strong base in Indian Market.
Fundamentally, It is strong and based on the valuations, it is available at a very good price.
2) Technical -
- It came out of the Descending channel which explains that it is on making new highs.
- So, if the Blue lines are broken, it will reach ultimately to 1262 atleast.
- Based on the trendlines, it is evident that if it breaks the red trendline marked in the graph, it gives a confirmation that the share will take
the fall and ultimately reach to a new low which could be around 119 probably.
- However that cannot happen based on the Fundamentals. Company is not that weak to touch 119
- So, we can expect a breakout tomorrow considering the support line. If the Blue lines are broken, 700 level can be seen.
If we see the 520+ Level on monday, we can expect the end of the lower high lower low pattern
It's a TRAP, bewareGlenmark is not falling below 490, and all the option sellers were not satisficed with the profits they have earned by now.
So, they simply lifted the share price only to throw it down and nothing else.
I suggest all the call option buyers and equity buyers to exit now and find a better share...!!
Possible up move until 513 and can fall heavily from there....
Happy Trading
