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Buy Glenmark Pharma, target Rs 652

We expect the stock to move higher and every long position should be protected with a stop loss below Rs 579 on a closing basis.

   

Our weekly chart analysis indicates that Glenmark Pharma has broken out from the falling channel pattern. The stock has also managed to surpass its long-term 200-DEMA on the daily chart and has also managed to close above the same.
In addition, other momentum oscillators also indicate that the current momentum is likely to extend further.
We expect the stock to move higher and every long position should be protected with a stop loss below Rs 579 on a closing basis for target of Rs 652.
MORE WILL UPDATE SOON!!
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