GLENMARK - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 4.4

Here’s a comprehensive technical analysis of GLENMARK Pharmaceuticals based on current indicators and price action

📊 Trend Overview

Current Trend: Strong Uptrend

Price Action: Trading near 52-week high (₹2,286), indicating bullish strength.

Chart Pattern: Rounded bottom breakout confirmed with volume surge and bullish candlestick formations.

📈 Moving Averages

Indicator Value (₹) Signal

50 DMA 1,850 Bullish (Price above)

200 DMA 1,576 Bullish (Price above)

Price is well above both 50 and 200 DMA, confirming long-term bullish momentum.

Short-term EMAs also show upward slope, supporting continuation.

📉 Momentum Indicators

Indicator Value Interpretation

RSI 73.2 Overbought – caution for short-term pullback

MACD 119 Bullish crossover – strong momentum

Volume 10.9L Slightly below 1-week average – momentum cooling slightly

RSI suggests potential for minor consolidation.

MACD remains strongly positive, confirming trend strength.

📊 Bollinger Bands

Price is likely near the upper band, indicating overextension.

A pullback toward the middle band (~₹2,050–₹2,100) could offer a better entry.

📌 Support & Resistance Zones

Level Price (₹)

Major Support 1,850–1,900

Minor Support 2,050–2,100

Resistance 2,286 (recent high), 2,300–2,320 (next breakout zone)

Trendline support aligns near ₹2,050.

Breakout above ₹2,286 could trigger rally toward ₹2,350+.

🎯 Entry & Exit Zones

Optimal Entry: ₹2,050–₹2,100 (on pullback to support)

Exit Zone: ₹2,280–₹2,320 (near resistance or if RSI remains elevated)

🔄 Trend Status

Trending: Yes – strong bullish trend, but short-term consolidation likely due to overbought RSI.

Watch for volume confirmation and MACD divergence near resistance.

Would you like a Fibonacci retracement or candlestick pattern breakdown for deeper insight? I can also help you track breakout levels for swing trades.

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