GLENMARK trade ideas
Flag Pattern developed > Possible Upside BreakoutFLAG is a continuation pattern .
According to Thomas Bulkowski's Index, Flag has a very high successful winning rate.
Watch the following:
Flag is a short term consolidation pattern
Sharp price advancement after breakout
A possible Upside Breakout is on the way.
GLENMARK CREATED HEAVY DEMAND LAST TIME IN THIS DEMAND ZONEIn the short-term, the stock may try to bounce back. It finds immediate support at ₹275 and a crucial one at ₹267. A close below the latter could trigger another bout of selling that could drag Glenmark Pharma below the ₹230 level. On the other hand, according to gann theory 1 unit of price/day = the motion of the earth around the sun such as we can see in the chart. but it will take some time for price and time balancing.