Hello Guys !!
Welcome back again ... Today We will be Witnessing a Pharma Story that is going to be a Blockbuster for the Year 2021 !!
The Stock that we are going to Discuss here is :
GLENMARK PHARMA LTD.
As I have Been updating since Last March Crash, We are witnessing a Strong Rally in Pharma Stocks all over the World and Indian Pharma Stocks are Not Left Behind.
Many Investors Believe they have Witnessed a Big Rally in Pharma and May be There is no more Steam left in these Stocks. But Surprisingly this is Just a Beginning and We will be Witnessing a Stronger and Firm Rally in these Stocks.
Let's see the Chart
This is a Weekly Chart and We are watching a Long Term Downtrend in the Stock even if We have witnessed a 100% rally from March Lows. The Stock has Just been breaking Out of the falling Trendline after a Long downtrend and now the Stock is Stable above the Falling Down trend and consolidating there. 470 to 510 is a strong consolidation near Breakout levels.
The Stock is Stable and Moving Above 100 Period Simple Moving Average and Slightly Below the 200 Period Simple Moving Average. The Only Resistance for now.
We will be Witnessing a Strong Rally in this Counter and it will continue for Next year. The Stock is buy on All dips till 470 is hold and hold for a Next Few months or a year. Strong Portfolio candidate.
The Recommendation :
GLENMARK PHARMA LTD.
Buy @ 520-530
Stoploss : 470
Targets : 577 - 666 - 711 - 822 - 966
Warning :
Do Not Take Leveraged Positions and Do not Gamble on this Analysis. This is Not a Intraday trade or a Get Rich Quick Scheme. It's a Investment Idea and Trading with Proper Risk Management is your Responsibility. Will not answer any queries regarding smaller ups and Downs. Do not Jump in Without understanding the Risk involved in Investing in Stocks.
Disclaimer :
The Analyst Atul Shinde is a Technical Analyst by Profession, A Renowned Global Market Expert and Certified Investment Advisor, Having Experience of More than 13 Years in International as well as Indian Markets. He is Having a huge Database of Clients in Global and Domestic Markets.
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