Buy Glenmark Pharma for target of Rs 310-316: Religare

MUMBAI: Birendrakumar Singh, technical analyst, Religare Securities is of the view that Glenmark Pharma has broken out on comparatively higher volume.

“A breakout in Glenmark Pharmaceuticals on comparatively higher volume that formed a “Flag” pattern has turned the trend positive. Initiate long position at Rs 296-293 with a stop-loss of Rs 281 for target of Rs 310-316,” in 4-6 trading sessions.