Glenmark : Buy 50% at this level, says Devang Visaria
Glenmark you have had a good gap up price move today and decent volume for the last two trading sessions, the price gap is between the levels of 272-276, so this should be a support area in the short term.
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| Devang Visaria, Chief Strategist, Devangvisaria.com
On the charts, Glenmark and particularly any other pharma company that you think is worth a buy?
Glenmark you have had a good gap up price move today and decent volume for the last two trading sessions, the price gap is between the levels of 272-276, so this should be a support area in the short term. What you could possibly do is you could buy 50% at this level and if it attempts to fill this price gap in tomorrow's trades, you could initiate another positions at around 272-274 and on the long side, we have a protective stop loss of 268. We would look for targets of closer to 310-315.
On the charts, Glenmark and particularly any other pharma company that you think is worth a buy?
Glenmark you have had a good gap up price move today and decent volume for the last two trading sessions, the price gap is between the levels of 272-276, so this should be a support area in the short term. What you could possibly do is you could buy 50% at this level and if it attempts to fill this price gap in tomorrow's trades, you could initiate another positions at around 272-274 and on the long side, we have a protective stop loss of 268. We would look for targets of closer to 310-315.
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