Glenmark Pharmaceuticals Stock Outlook and Strategy
About Glenmark Pharmaceuticals
Glenmark Pharmaceuticals is a leading Indian pharmaceutical company engaged in the discovery, development, manufacturing, and marketing of generic drugs and active pharmaceutical ingredients (APIs). The company has a strong presence in domestic and international markets, focusing on research-led innovation and therapeutic solutions across various disease areas.
Stock Performance Overview
Over the past month, Glenmark Pharmaceuticals has been in a downtrend. However, last week the stock bounced off the support at ₹1,900, posting a gain of nearly 7%. Considering the long-term bullish trend, this rally could trigger a resumption of the uptrend.
Participants can consider buying the stock at ₹2,050 and accumulating at ₹1,930, placing a stop-loss at ₹1,800. When the price rises to ₹2,200, trail the stop-loss to ₹2,080. When the stock reaches ₹2,300, revise the stop-loss to ₹2,230. Exit the stock at ₹2,400.
Trading Tips for Volatile Phase
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Investor Takeaway
Glenmark Pharmaceuticals’ recent bounce from ₹1,900 support suggests a potential continuation of the long-term bullish trend. Investors can plan entries around ₹2,050-1,930 with strict stop-losses, trail stops as the stock rises, and aim for a medium-term target of ₹2,400. Careful monitoring of support and resistance levels is essential for effective risk management.
