Glenmark: In Strong Downtrend

10 Sep 2017

Stock is in a strong downtrend; had a fresh breakdown @ 592. Last closing @ 580.25; selling opportunity can be found either on pullback to 592 or on break below 576.
For this trade targets on the downside will be 555 and 536 -- where the stock may find some support.

Trade safe, stay healthy.
Hit like/comment if this information is useful.

Regards
Bravetotrade

10 Sep 2017

Nota

11 Sep 2017

Nota

...And the downtrend continues...

11 Sep 2017

Nota

Short at 579.50 and same is my SL now.
Let's see, just sitting tight 🤘

11 Sep 2017

Nota

12 Sep 2017

Nota

I ll cover above 577 with the idea of looking weakness again in this pullback.

13 Sep 2017

Nota

Near 592 breakdown level. Weakness at this place would attract sellers.

14 Sep 2017

Nota

weekly close somewhere near current price , above 600 or so, and then continuation will take it higher.

If that happens we ll surely see swift, sharper up move.

15 Sep 2017

Nota

Last short did bring some fortunes, although not substantial. Stock came back; broke up the psychological 592 level and is staying above that level which is positive for bulls. But stock seems tired and so far there is no continuation above 605.

I would like to see further retest of 592 to confirm that the upmove is sustainable.

Any weakness at or below 592 again may attract short.

However, If there is a clean sweep above 620 -- buy on pullbacks should be the strategy.

This post will only be updated fro shorting opportunities.