NSE GLAND: A Critical Resistance Zone That Could Shift the TrendTimeframe: Daily
In NSE GLAND, the price has respected the channel in three distinct moves, indicating a potential 3-wave correction setup. Currently, it is trading below the 50 and 100 EMA, with ATR at 55.96 and ADX at 42.07 .
After reaching a high of 2220, the price declined and formed a corrective structure. Wave (A) completed at 1585.7 , followed by wave (B) at 1964 . Presently, wave 4 of wave (C) is in formation. The 1545-1585 zone serves as a strong resistance, where a decisive breakout could shift the trend. However, the price still needs to reach 1328 to complete a 100% extension of wave A, making wave C = wave A at 1328 . A strong throw-under could enhance the probability of revisiting levels near wave (B).
We will update further information soon.
GLAND trade ideas
Gland pharmaGland Pharma Ltd. manufactures pharmaceutical ingredients and injectable formulations. It offers injectables including vials, ampules, pre-filled syringes, lyophilized vials, dry powders, infusions, and ophthalmic solutions.
Gland pharma looking attractive above 1696. i think if its cross this level may be try to reach 1890. 1900 +++
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Key Support / Resistance Breakout - Swing TradeDisclaimer: I am not a Sebi registered adviser.
This Idea is publish purely for educational purpose only before investing in any stocks please take advise from your financial adviser.
Key Support & Resistance Breakout. Stock has give Breakout of Resistance level. Keep in watch list. Buy above the high. Suitable for Swing Trade. Stop loss & Target Shown on Chart.
Be Discipline because discipline is the Key to Success in the STOCK Market.
Trade What you see not what you Think.
SWING IDEA - GLANDStock has completed its Correction phase and found its lowest at 860, much below the 1700 IPO listing.
Stock seems to be forming a new Higher High and Higher Low Pattern since Oct 2023.
Also it can be seen following the Trendline as well.
A Hammer on the weekly close last week, could indicate a strong support forming exactly on the Trendline, which is a good sign for further upward move.
If all goes right, the stock could make it to its next leg up.
Stoploss mentioned is crucial. If broken, the stock could start seeing further lows.
GLAND S/RSupport and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Investment Trade in Gland Pharma
Here we're looking at the Monthly chart where Price was going down making lower lows as you see in the picture above and then it has violated its previous Resistance and we have a promising Demand formed in 3 Months chart let's have a look at it.
After a previous high is violated we know there is a Buying momentum and we have a 3 Months Fresh Demand formed which will act as a Source for the uptrend on the opposite we have a Fresh 6 Months Supply which is also a Fresh Supply hence we have the Start point and End point and now we will draw the Curve.
This is the best Demand Supply Equilibrium Curve I've ever drawn, we have basically divided the overall Curve into 5 different parts viz. {Very High on the Curve} As a Trader we should always be looking for a Selling opportunity or definitely avoid Buying in this area, same for {High on the Curve} As a professional Trader we will always avoid doing anything while we are in the {Middle of the Curve} because this is area of uncertainty and the Reward to Risk ratio is also less when Trade taken in this area, Hence we want to Buy low which is {Low on the Curve} or best in {Very Low on the Curve} as here we have maximum Reward against the Risk.
Here's the main part.
Trade Type : Investment Trade
Entry : Rs. 1848.45
SL : Rs. 1654.50
Target : Rs. 3312.15
Reward : Rs. 1463.7
Risk : Rs. 193.95
Ratio. : 7.5 / 1
Review and plan for 7th August 2024 Nifty future and banknifty future analysis and intraday plan in kannada.
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please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
Gland Pharma "The Rising Three Pattern" on Weekly TFThere is a breakout of The Rising Three Pattern on weekly TF. Potential Target would be 2,213/- in next two months (By Jan 24).
Volume increased with prices increased (From May to Aug) but with price correction there is no substantial volume which signifies Gland Pharma is in uptrend.
Note: It is not at all the buying and selling recommendation and this stock is in my portfolio and there is a high probability that my analysis is biased and could be possible my analysis will go wrong.
GLAND PHARMA Buy ideaAfter given a temporary breakdown of 1680 level NSE:GLAND again sustained above level of 1680, which is best entry level for positional buyer with stop loss of 1640 (-40 risk only). My expected upside target would be 1720 (+40) & 1754 (+74). This could be low risk and high reward idea.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
Potential Up Trend on Gland Pharma Ltd (NSE), Fib RetracementThis is my personal view that Gland Pharma Ltd ha very potential uptrend for coming future.
I tried to figure it out with the Fib Retracement with Anchored volume profile.
As I have noticed it retraced exactly from -1.618 (905.85).
Target 1.618, which is 3190.45
Let me know if you have different views..
Thanks for viewing.