Glenmark Pharma has completed a long-term inverted Head & shoulders pattern. It is now looking bullish with an upside move of INR 500 from current levels. Almost 2x. At present it is at the 0.5 resistance level of the Fibonacci chart
Glenmark - Elliott Wave Count the market seems like near wave B. we can expect one more impulse move upward and then the market likely to fall to wave C. Please note that this information is for educational purposes only, and it is crucial to trade with caution. NSE:GLENMARK NSE:GLENMARKZ2023 BSE:GLENMARK
Wave 1 and 2 are both 3 wave sequence structures and Wave 3 will be a 5 wave sequence structure as wave 2 has closed by reatracing wave 1 by more than80% and less than 100% which suffices the rules of wave 1 and 2 Price has formed a 6 Month Demand and the Target is derived as per the FIbo ratio of 161.80% which gives a Reward : Risk ratio of 16.8:1 ENJOY THE...
Glenmark breaking out of very strong resistance of 516 & trying to sustain above it. Buy @ cmp 516.75 with sloss of 505 & tgt of 550
Sustaining 530 levels can take stock towards 600 levels.