ParamjitMahapatro

glenmark looks bearish in medium term

NSE:GLENMARK   GLENMARK PHARM
in weekly, wave C is going on.

in closure look, there are a lot much left of wave C.

wave B retraced 50% of wave A, so wave C should be extended.
Now counting the fractals of wave C shows that, sub wave going on.

looking at the retracement levels it can plunge below 560 levels. So one should exit in every bounce.

Note: this is for educational purpose.
交易开始:
till now 668.25
交易开始:
till now 632.60, getting beaten quite severely.
交易开始:
till now 610.90
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updated wave count :
交易开始:
still going down , closed at 601
评论:
regular bullish divergence in daily at horizontal support. short term bounce is eminent.
评论:
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after short term bounce, long term is resumed here, it has broken the horizontal support and moving lower,

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sorry for posting the wrong chart here,

here is the right one

评论:
cmp - 515.70, in weekly, it is in descending channel, downtrend continues....
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