SELL GLENMARK below 650 TG 635/620 SL 675
The GLENMARK is in downtrend
and is forming a continuation pattern in short term charts, it is likely
to show correction with the breach of the support level of 647, where one may
initiate the short position in it for the targets of 635,620 while stop loss
can be placed at 675 .22&55 and 200 EMA seen as resistance levels on
intraday charts . Today, Pharma stocks were the biggest losers
with Nifty Pharma posting sixth consecutive session of loss. The sectoral index
fell over 3% dragged by Sun Pharma, Aurobino Plarma and Cipla.
DAILY CHART FOR GLENMARK
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