glenmark H&S patternGlenmark broke out a good ascending triangle pattern 2 days back
and now forming a nice head and shoulders pattern which kinda signifies it wants to come back and restest the levels again so that it can continue to move in the long way
for intraday, you can stay bearish tomorrow but on a long term I think this is going up
GLENMARK trade ideas
Glenmark - Intraday Setup Glenmark CMP – 497.20
Looking very bullish. One can go long on this stock for Intraday trade setup with the following entry, exit & stop loss.
Buy range 495 - 500 / Stop Loss 490
Target 1 - 505
Target 2 - 510
Target 3 – 515 / 520
Note: This is my view and for educational purpose only
GLENMARK 1HRBEARISH BAT Ultra high volume up bars - trap of Smart Money , Higher volume- Professionals are selling into the public buying
Professionals have no interest to the upside – low volume.
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL SELL
GLENMARK - ready to fly for 15%DISCLAIMER:
As a trader, you should consider your own risk: reward ratio and do proper lot sizing according to your margin and leverage level. This analysis is a trading idea, not a trading signal for you. Consult your financial advisor before making any trade.
My own trend direction estimation, entry point, stop loss and take profit levels are on the chart.
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Good Lucks.