GLENMARK PHARMA - 1H TF
Hourly Candle not getting the upside push. Sellers activates in the 356-357 range and it falls back down to 345 odd levels. Then it gets a push upside with a big green candle supported with volume but there is no lateral move and it is the same story again n again. Observe the hourly candles in the parallel channel, it needs a close above 356 and above 360 WITH VOLUME. That will be the final nail in the coffin for this stock.
On downside, be ready to sell below hourly close of 340 as the stock exits the channel of 340-360 and enters a new one with range of 325-340. Sell on rise around 339-341 after it breaks 340 WITH VOLUME. SL 345.1. Similarly, hourly close above 345 can be traded for upside till 350.
On downside, be ready to sell below hourly close of 340 as the stock exits the channel of 340-360 and enters a new one with range of 325-340. Sell on rise around 339-341 after it breaks 340 WITH VOLUME. SL 345.1. Similarly, hourly close above 345 can be traded for upside till 350.
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