GLENMARK

15 déc. 2024

📊 **Technical Analysis for Glenmark Pharmaceuticals (NSE)**

**Current Price:** ₹1,518.15
**Resistance:** ₹1,545.60 (Upper boundary of the rejection zone)
**Support:** ₹1,439.95 & ₹1,420.55 (Key levels marked with a purple zone)

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### 🔍 **Analysis Details:**
1. **Bearish Setup:**
- Glenmark is trading below the **50-day Moving Average**, which indicates a bearish trend.
- A recent breakdown occurred from a consolidation range, which suggests downside momentum.

2. **Key Support Zone:**
- The highlighted **purple support box** between ₹1,440 and ₹1,420 acts as a strong demand zone.
- If the price breaches ₹1,508 (current support), we expect it to retest the lower support levels.

3. **Stop-Loss and Targets:**
- **Entry:** Below ₹1,508 (confirmation of weakness).
- **Stop-Loss (SL):** ₹1,545.60 (above the rejection zone to limit risk).
- **Target (TGT):** ₹1,439 and ₹1,420 (major support levels).

4. **Risk-to-Reward:**
- If executed below ₹1,508, the **Risk-to-Reward Ratio** is favorable, providing potential downside gains while limiting losses.

5. **Trend Confirmation:**
- The blue arrow in the chart signals a **bearish continuation** toward the support levels, aligning with current market weakness.

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### 🔥 **Trade Setup Summary:**

✅ 💥 **INTRADAY STOCK FOR TOMORROW SESSION 🚀 ✅**
💥 5% RETURNS EXPECTING 💥

#GLENMARK
✅ BELOW :- **₹1,508**
🚫 SL :- **₹1,545**
🚀 TGT :- **₹1,439** & **₹1,420**