GLENMARK trade ideas
GLENMARK ::: BULLISH :::DATE: 02 SEP 2021
INSTRUMENT:GLENMARK
TREND: BUY
TIME FRAME: DAY
CMP: 538.40
BUY ABOVE: 540
STOP LOSS: 519
TGT 01: 550
TGT 02: 578
TGT 03: 594
RISK DISCLOSURE:
We are not S E B I registered analysts. VIEWS EXPRESSED HERE ARE FOR OUR RECORD PURPOSES ONLY. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
Glenmark Short Term ReversalThe stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by brokerage calls, 200 EMA and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed near below support zone, 200 EMA & the lower trendline. The target is placed based on fundamentals.
GLENMARK ON IMP ZONE BUY OPPORTUNITY WITH LOGICSGLENMARK IS ON RETRACEMENT AND AFTER THE CORRECTION IS UNDER CONSOLIDATION
SO LET CONSOLIDATE IT AS 2 WAVES ARE REMAINING TO BUILD BUT WE SHOULD TRACK IT
BECAUSE IT IS ON THE V-PROFILE SUPPORT AND ON THE FIBO RETRACEMENT LEVEL 0.5 AND ALSO ON THE
TREND LINE SUPPORT SO I ALSO ANALYSE WAVES SO IT HAS COMPLETED WAVE A,, WAVE B,, WAVEC,
BUT WAVE D AND E ARE STILL REMANING SO WE WILL WAIT TO LET IT REACH OUR ZONE AND THEN
GRAB THE OPPORTUNITY WITH SMALL SL