Glenmark Pharmaceuticals Ltd on a daily chart stock
price is making higher high and higher low pattern with increase in volume,
indicate positive outlook. Stock price is on the verge to give breakout of
ascending triangle pattern, any trade or closed above Rs. 878 stock price will
rally towards 949 level, further Rs. 990, indicate rally will only continue
towards north.
If one were to go by the volume data, a
higher upswing is seen on the stock price. Trader or investor
can accumulate for the target of Rs.949/990 level, with Rs.832 stop
loss on closing basis.
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