Glenmark Technical Rationales…. ZZ
On daily chart, this stock is trading in cup pattern formation. This stock is in the final leg of the cup pattern and currently trading near its resistance level.
This stock is continuously recording higher highs and higher lows on the weekly charts, which is bullish in nature.
In the last month, this stock has closed higher by 11.52% meanwhile Nifty Pharma index has closed with lower by -1.64%.
From the above observation, this stock is expected to breakout the near-term resistance and form the new rally.
For a short term, trend is bullish above 715 levels and it can find strong support at 610 levels
