GLENMARK trade ideas
Glenmark Buy Intraday trade for 6th NovemberIt has clearly broken both the 'symmetrical triangle' pattern and the resistance levels of '504'. Based on previous charting pattern, we can expect an increase of 1% or higher on 6th November.
glenmark pharmaImmdeiate resistance @ 506. If breaks, T:520 , 550 and 570. Watch out for for nxt major R @520 or book partially
Glenmarka. Zone: Strong Bull
b. Resistance 1: 507.20
c. Resistance 2: 513.55
d. Support 1: 469.15
e. Support 2: 450.10
NSE:GLENMARK
Glenmark : Trendline breakout, good buy above 508Glenmark has been consolidating since long and it gave a breakout from its trendline.
However, a good buy only be considered if breaks 508, SL to maintained at 480.
Disclaimer : The idea is only for educational purpose. please make any position after consulting your financial advisor.
GLENMARK, ARE YOU READY FOR SOME EARMING IN PHARMA(CHART# 351)Glenmark has formed a perfect Symmetrical triangle pattern and has given breakout closing. Although Volume is not much but if tomorrow, it manages to stay above 505 (510 for safe payers) then it can see possible upmove.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
Thanks
Piyush Gupta
GLENMARK - bullish channel pattern formationBULLISH CHANNEL PATTERN FORMATION IN THE STOCK. IMPORTANT LEVELS MARKED
Trapped Buyers with dried out volumesBuyers were trapped at a higher levels and everyone is holding the share with the expectations of upper circuits.
Even though the price is ready to come out of the descending channel, due to lack in supply of sufficient volumes, it is staying within
Eventually, volumes will be gathered by a sharp correction.
Not a single pharma share is trading at June levels. But Glenmark is...!!
GLENMARK wait for either side breackoutSymmetrical Triangle Pattern, wait and watch for entry either side break out....
Struggling at 500 if breaks 570 is the targetPrice after the big move settles at 500 range for a longer time and its time to break this level. If breaks this level then ATH is the target.
Glenmark...something is coming upsomething is happening in this stock, even after the news of highest sales, Glenmark didn't move as expected.
Not just this, this share didn't give any good upside since the announcement of COVID medicine.
However, rest of the pharma shares doubled, tripled since from that date.
1)With the results coming up,
2)Glenmark near Breakout levels of the Descending Trendline,
3)Near Trendline support
We can get a clear confirmation. Until then, HOLD STILL....
Please comment what you are thinking about my view
GLENMARK PHARMANSE:GLENMARK For :- (Intraday & Swing Trading)
Look For BuY (After Breakout)
Entry :- 509
Stop Loss :- 490 or 480(Safe)
Target's 👇
1st = 550
2nd = 570
(Risk Must Be Managed.)
Keep Your Eyes On Index
Give Me A Thumbs Up...👍
😜Follow For More ✔
--Any Suggestions--
