Go long on Glenmark above 375. While I'm bearish on Glenmark for the short term as revealed in my previous tweet. I'm bullish on Glenmark above 375 for the medium/long term. Target 450-600 by trailing SL
GLENMARK trade ideas
Glenmark - LongGlenmark earlier broke out after crossing a crucial resistance of 416. Stock now has come down after a huge rally and exactly took support at 416 and reversed. Go long with a stop of loss of below 416.
[Buddha] GLENMARK Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
GLENMARK Trading SetupDisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Glenmark: Chart set u p & viewGlenmark
Closing Price 432.7
- the stock has seen a meteoric rise from 161 in Mar 2020 to 550 in Jun
- the stock has also seen a sharp drop of 120 points from the highs
- at current levels there are multiple support possibilities
- 20 day EMA currently at 429
- 38.2% retracement at 415
- incidentally the green zone has acted as important level exactly 1 year back between July 2019-Aug 2019
Given the setup, one may consider buying in 2 tranches
- at CMP or on any dips towards 415
- use 2nd part only if price dip towards 380 - 394 zone
Target for the setup - 612 / 646 levels in medium term
Pattern would get invalidated if it closes and sustains below 365 for 3 consecutive days
The set up provides a Risk::Reward ratio of 1 :: 5.
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Discliamer:
- The view expressed here is my personal view
- Use this for educational purpose
- Any decision you take you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Consolidating in a copy book style. Not much down side is seen, expected to tread above 400 and breakout possible above 488.
GLENMARK PHARMAGLENMARK PHARMA
#GLENMARK is moving sideways and has formed a triangle pattern in 30 mins chart.
RSI is taking support from 40-level and is Bearish.
TT2 30min Trend is BULLISH.
Volume is extremely Low right now.
For upward move, the price needs to break 445.15 with good volume and follow the breakout with conviction. The next resistances are 464.7/475. Support is 423.
If the price breaks the low of 423.35, the next support is 414/398/387 on a 30mins chart.
KEEP AN EYE!!
***in case of GAP opening, the given levels become invalid.
***this is my personal view. Please take advice from your financial advisor before investing.
GLENMARKTake trade based on your analysis
Buy/Short just above/below the marked line.
Typically for intraday start trailing your stop loss from 0.5% towards target
Stoploss is based on your capacity
I usually hedge towards the stoploss direction
if price opens between the target and entry line, I usually dont trade that scrip.
For online course feel free to DM
Glenmark, a Good BuyGlenmark has recently came into news because of the medicine it has started to produce for COVID-19. After the correction, its again at a point where buying more stocks is a great choice.
Please do your own research before making any decisions.
GLENMARK - 1D TFCup and Handle pattern in Glenmark Pharma? Volume droping in the handle and increasing when inching towards the breakout. Ideally it should be
bought in the 340-345 range, SL 299.8(low of the Handle-304) and Target is the depth of the Cup to the breakout of the Handle which comes around 490. Let me know if you have any insights/experiences in trading these patterns and measuring the Targets and SL in the same. Beginner in patterns, so kindly refrain from being too critical. Thank you and have a nice day/night.
Glenmark clear BUYMonthly chart -
Target 675 - 740
1. Price Volume breakout over trendline.
2. MACD positive cross over
3. RSI down trendline is broken on the upside.
4. RSI and William at favorable values supporting a BUY.
GLENMARK EOWA 28 June 2020Channel Breakout 13/04
Hard Stop 374
RSI MACD D,W TF Rising and Strong
200D EMA BO on 01/06 WRC abv avg VOL
Current Weekly Candle Long Wick on top suggesting Supply.
CRS Strong and Trending Up
RSI of CRS also Strong.
FIBO levels TGT SL Marked
FOR GLENMARK HOLDERS DONT PANIC, because once touch again 540, WAITNG for result so MORE voltail and over all target 840, GOOD RESULT THIS FLY SHORT TERM. ONE MORE CHANCE BUY 445 TARGET 475, S.L YESTERDAY LOW FOR INTRADAY.
Glenmark - See the traded vol in crores !!I have a personal opinion that the company is being hauled upon badly by the analysts, fund managers and others with their IN-VALUABLE recos. One should congratulate the company for coming out with the drug. Regarding Q4 financials, Q3 was good and after that there were good developments. Despite the results, the virus is spreading and it seems to be spreading fast. Also, the product can be exported to other countries. It seems the ANALYSTS have not intentionally cited this.
GLENMARK PHARMA Trade SetupThis Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
GLENMARK - Wait for Q4 on 26th JulyTarget achieved, thanks to Covid drug. Price expected to come to 490 lvls. One may consider long only after looking at coming results. As far my understanding, the new drug effect could be some where around Rs 10 Cr to the bottom line.
