RSI low/high Values: [ 25 - 75 ]
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AI Analysis of GLENMARK.NS
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Glenmark Pharmaceuticals Limited stock downgraded to Buy Candidate
(Updated on Mar 28, 2024)

Buy or Hold candidate since Feb 20, 2024 Gain 7.19% PDF

The Glenmark Pharmaceuticals Limited stock price fell by -0.416% on the last day (Thursday, 28th Mar 2024) from ₹962.45 to ₹958.45. During the last trading day the stock fluctuated 1.50% from a day low at ₹954.25 to a day high of ₹968.60. The price has risen in 7 of the last 10 days and is up by 6.68% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -235 thousand shares and in total, 518 thousand shares were bought and sold for approximately ₹496.36 million.

The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹963.68 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.62% during the next 3 months and, with a 90% probability hold a price between ₹904.82 and ₹1,046.79 at the end of this 3-month period.

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GLENMARK.NS Signals & Forecast

The Glenmark Pharmaceuticals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹948.25 and ₹907.57. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -0.416%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Glenmark Pharmaceuticals Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹888.80 and ₹872.25. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Glenmark Pharmaceuticals Limited finds support just below today's level at ₹888.80. If this is broken, then the next support from accumulated volume will be at ₹872.25 and ₹810.25.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹14.35 between high and low, or 1.50%. For the last week the stock has had daily average volatility of 1.94%.

Our recommended stop-loss: ₹919.94 (-4.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (GLENMARK.NS) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Glenmark Pharmaceuticals Limited to open at ₹960.43, and during the day (based on 14 day Average True Range), to move between ₹929.58 and ₹987.32, which gives a possible trading interval of +/-₹28.87 (+/-3.01%) up or down from last closing price. If Glenmark Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 6.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹962.45 (0.42%) than the support at ₹888.80 (7.27%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Glenmark Pharmaceuticals Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Glenmark Pharmaceuticals Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.886 Buy Candidate Downgraded

Predicted Opening Price for Glenmark Pharmaceuticals Limited of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
₹960.43 ( 0.207%) ₹958.45

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for GLENMARK.NS

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 974.78 1.70 %
R2 969.30 1.13 %
R1 965.92 0.779 %
Current price: 958.45
Support S1 954.95 -0.365 %
S2 951.57 -0.718 %
S3 946.08 -1.29 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 962.45 0.417 %
Current price 958.45
Support S1 888.80 -7.27%
S2 872.25 -8.99%
S3 810.25 -15.46%

GLENMARK Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Sep 12, 2022 Sep 12, 2022 Sep 12, 2022 ₹2.50 0.642%
2 Sep 08, 2021 Sep 08, 2021 Sep 08, 2021 ₹2.50 0.481%
3 Sep 17, 2020 Sep 17, 2020 Sep 17, 2020 ₹2.50 0.507%
4 May 29, 2019 Sep 19, 2019 Oct 01, 2019 ₹2.00 0.626%
5 May 29, 2018 Sep 19, 2018 Oct 28, 2018 ₹2.00 0.337%

FAQ

What is the symbol for Glenmark Pharmaceuticals Limited Stock and on which exchange is it traded?
The symbol for Glenmark Pharmaceuticals Limited is GLENMARK.NS and it is traded on the NSE (National Stock Exchange of India).

Should I buy or sell Glenmark Pharmaceuticals Limited Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Glenmark Pharmaceuticals Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

How to buy Glenmark Pharmaceuticals Limited Stock?
Glenmark Pharmaceuticals Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Glenmark Pharmaceuticals Limited Stock.

What's the current price of Glenmark Pharmaceuticals Limited Stock?
As of the end of day on the 2024-03-28, the price of an Glenmark Pharmaceuticals Limited (GLENMARK.NS) share was ₹958.45.

What is the 52-week high and low for Glenmark Pharmaceuticals Limited Stock?
The 52-week high for Glenmark Pharmaceuticals Limited Stock is ₹974.00 and the 52-week low is ₹444.30.

What is the market capitalization of Glenmark Pharmaceuticals Limited Stock?
As of the 2024-03-28, the market capitalization of Glenmark Pharmaceuticals Limited is 270.463B.
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About Glenmark Pharmaceuticals Limited

Glenmark Pharmaceuticals Limited Glenmark Pharmaceuticals Limited, together with its subsidiaries, develops, manufactures, and markets pharmaceutical products in India, North America, Latin America, Europe, and internationally. The company provides branded and generic formulations in the therapeutic areas of dermatology, respiratory, and oncology; and various active pharmaceutical ingredients. Its product pipeline includes ISB 830 (telazorlimab), an OX40 antagonist monoclonal an... GLENMARK.NS Profile

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