Hello and welcome to this analysis
Glenmark after consolidating near its monthly support attempted a fresh upmove from 350 to 400, Post that it has made a sideways corrective forming a Bullish Harmonic ABCD.
The current reversal from 375 could be a higher low of the new uptrend in it and it could rally till 410-425-450 as long as it does not breach 374....
For long term I am seeing a downfall in #GLENMARK in coming future irrespective of overall market direction. CMP 437
Possible support levels 367, 270, 200 Reasons behind this view:
1. Head & Shoulder
2. Downward Trendline
3. Crossed below the crucial level based on SMART Players
1. Its forming a inverted head and shoulder , chances of stock moving up is higher
Invest as per levels
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Forming inverted head and shoulders Pattern in weekly chart. There is also a head and shoulders pattern in daily! Interesting. Good only for long term investment
Glenmark is consolidating in a particular range for more than 4 months it is making inverted head & shoulder pattern, 545.85 is very imporatant fib resistance level for this particular stock if this level breakout and price sustain above this go for long with price target of 604 around 9%.
1. At crucial support Zone
2. Current price less than intrinsic value
3. Volumetric profile average is 485 and trading near that level
4. Dividend yield of 5%
1. Pharma has bounced back as posted last time
2. Check for stocks forming breakout structure
3. Simple price action with volume analysis
4. Check stocks which is nearest to the breakout , Check for break out confirmation and enter
5. Here are top stocks for invest in till the pharma index reaches top partner the channel
6 like if yij agree with the analysis . 👏
