GLENMARK - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.5

Here’s a detailed technical analysis of Glenmark Life Sciences Ltd (GLENMARK)

📈 Trend Analysis

Current Price (₹2,112) is above both 50-DMA (₹1,990) and 200-DMA (₹1,710) — confirming a strong bullish trend.

52-week Index at 82.8% shows the stock is trading near its yearly high of ₹2,286, indicating momentum continuation.

Trend Status: Trending upward, with breakout potential.

🔍 Momentum Indicators

RSI (59.4): In the bullish zone, just below overbought — signals strength with room for upside.

MACD (27.2): Strongly positive — confirms bullish crossover and trend strength.

Volume: At 12.28L, significantly above 1-week average (7.15L) — indicates strong accumulation and breakout interest.

📊 Chart Patterns & Moving Averages

Golden Cross: Price above both 50-DMA and 200-DMA — a classic bullish signal.

Support Levels

₹1,990 (50-DMA)

₹1,850–₹1,900 (recent swing zone)

Resistance Levels

₹2,286 (52-week high)

₹2,300–₹2,350 (psychological and breakout zone)

📉 Bollinger Bands

Price is near the upper band, suggesting short-term overextension.

Bands are expanding, indicating volatility and strength in the current move.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 1,980–2,000 Near 50-DMA and support zone

Exit (Short-Term) 2,280–2,350 Resistance zone, potential reversal

Stop Loss 1,900 Below swing low and trendline

🧭 Summary

Trend: Bullish

Momentum: Strong and rising

Volatility: Expanding, with breakout potential

Ideal Strategy: Accumulate near ₹1,980–₹2,000 with target ₹2,280–₹2,350. Monitor RSI and volume for signs of exhaustion or continuation.

Would you like to compare this setup with other pharma stocks or explore sector rotation strategies?

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