GLS is retaining its strength post BO last week with good volumes. Its gearing up to breach its ATH levels now. Just see how the price takes support on 50 DMA since the 10W/40W cross.
If Market breadth stays solid, this could be fun to ride. Keeping in watchlist for now to see if the price consolidates and gives an entry point.
I also saw ZYDUS flashing from...
A bullish flag & pole Chart Pattern Breakout on the Weekly Time frame of NSE:GLS
Price Action supported by very good volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list and initiate the long trade as per the levels mentioned on the chart
Stop loss will be on a Weekly closing...
Techno - Funda Pick: GLS
- Above all key Moving Averages
- Strong fundamentals with amazing ROE and ROCE
- Relatively cheap valuation which makes it very attractive at these levels
- Has broken out of multiple big bases with no big selling seen during accumulation phase
- Multiple shakeouts visible on chart to remove the weak hands
Medium term buy call on GLS -
Rationale:
Above all key Moving Averages
Small Caps have started buying in Jan'24
Multiple shakeouts visible on chart to remove the weak hands
Has broken out of multiple big bases
Strong fundamentals with amazing ROE and ROCE
Relatively cheap valuation which make it very attractive at these levels
#GLS trading above Resistance of 847
Next Resistance is at 1064
Support is at 635
Here is previous chart:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This...
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before...
📊 DETAILS
Sector: Pharmaceuticals & Drugs
Mkt Cap: 8,022 cr
Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals Ltd, is one of the leading developers and manufacturers of select high-value Active Pharmaceutical Ingredients. The company further operates in Contract Development and manufacturing operations to offer services to specialty...
GLENMARK LIFE SCIENCE LTD / GLS - 6 months Consolidation Breakout.
1) Time Frame - Weekly.
2) 6 months of consolidation broken in Daily Time frame With Huge Volume.
3) Stock will find a resistance around the price 799 (Previous All Time High).
4) Recommendation - Quite risky to enter with daily time frame but still it is a Good buy / one can buy after the...
The stock has been forming a rounding bottom pattern since 2021 moreover it has superb fundamentals which enhances further reliability in the stock the stock has broken from the cup and and handle pattern and the target for the same would be 1176 from a loger perspective
the company is a subsidary of gls pharma
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
![GLS: GLS Post BO [Weekly]](https://s3.tradingview.com/t/T6MRnP2n_mid.png "GLS Post BO [Weekly]")
