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    HomeNewsBusinessStocksBuy Glenmark Pharma with 8% return: Aditya Agarwal

    Buy Glenmark Pharma with 8% return: Aditya Agarwal

    The stock formed a higher highs pattern which is a bullish setup. The daily RSI (14) entered above 60 levels which is a bullish signal.

    Moneycontrol News
    December 21, 2018 / 10:53 IST

    Aditya Agarwal

    Looking at the daily chart, Glenmark Pharma confirmed its breakout from the Symmetrical Triangle pattern; however, the follow-up buying was missing and as a result, the stock slipped into a consolidation.

    On the weekly chart, the stock formed a higher highs pattern which is a bullish setup. The daily RSI (14) entered above 60 levels which is a bullish signal.

    Hence, we recommend traders to buy this stock at the current level of Rs 687 with a price target of Rs 740. A stop loss should be placed below Rs 650.

    Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
    Moneycontrol News
    first published: Dec 21, 2018 10:53 am

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