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Glenmark Pharmaceuticals

Discussion in 'Technical Analysis' started by sanjay_sansanwal, Aug 3, 2012.

  1. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Glenmark pharmaceuticals break out today @ 407 and closed at 408.9 and made a high of 413.3
    stock is in uptrend from dec 2011
    I think it's a good buy @cmp with stoploss of 385
    share ur views.
     
    sanjay_sansanwal, Aug 3, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    Perfect :D
     
    shabbir, Aug 3, 2012
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  3. sujan4bw

    sujan4bw Member

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    very good pick sanjay
     
    sujan4bw, Aug 3, 2012
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  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Glenmark is rocking I bougt today @413.35 and now it is @424.50
    should i book the profit today only.
    shar ur views.
     
    sanjay_sansanwal, Aug 6, 2012
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  5. shabbir

    shabbir Administrator Staff Member

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    Depends on your target price. If you reached price target, you should be booking your profits.
     
    shabbir, Aug 6, 2012
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  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Booked 40% @ 441
     
    sanjay_sansanwal, Aug 31, 2012
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  7. tarak_desai

    tarak_desai New Member

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    Sanjay, Just for my understanding and whenever you are free, do update me on this.

    You decided break out @407 because in the past as per graph the last high was 407.60 ?

    And you had stoploss of 385 because as per graph attached script was trading around 385 before having major jump ?

    Note: somehow graph is not been attached, here is the URL for graph:
    http://i.imgur.com/TaBNb.jpg
     

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    Last edited: Aug 31, 2012
    tarak_desai, Aug 31, 2012
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  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Hi!
    I decided breakout because On 11/7/12 the high of glen mark is 407 and on 3/8/12 it make a new high of 413.3 and close @ 408.9 above the high of 11/7/12 with strong volume support and the next day I enter in trade with stop loss of 385 because the previous candle close of the break out on 2/8/12 is 386.75, so i choose 2 points below that level @385.
    There was support for the stock between 375 to 380 for safe play.

    Feel free to ask anything.
     

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    sanjay_sansanwal, Aug 31, 2012
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  9. tarak_desai

    tarak_desai New Member

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    Thanks Sanjay for your time.
     
    tarak_desai, Aug 31, 2012
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