GLENMARK PHARMACEUTICALSAtualizado

glenmark looks bearish in medium term

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. snapshot

Now counting the fractals of wave C shows that, sub wave [iii] going on.
snapshot

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

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

snapshot
Nota
sorry for posting the wrong chart here,

here is the right one

snapshot
Nota
cmp - 515.70, snapshot
in weekly, it is in descending channel, downtrend continues....

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