{"id":497151,"date":"2013-03-08T09:46:02","date_gmt":"2013-03-08T04:16:02","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=497151"},"modified":"2013-03-10T20:02:55","modified_gmt":"2013-03-10T14:32:55","slug":"analysis-glenmark","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2013\/03\/08\/analysis-glenmark\/","title":{"rendered":"Analysis: GLENMARK"},"content":{"rendered":"

Today\u2019s pick is GLENMARK [stockquote]GLENMARK[\/stockquote]. The stock has been on an uptrend since the start of the year. It saw its 52 weeks high of Rs. 552 in January, and since then has been on a pennant formation. The decreasing volume levels are suggesting that it is soon going to decide on its next move. In the last three months, the stock moved +11%<\/strong><\/b> Vs. -1% of the Nifty\u2019s.<\/p>\n

\"GLENMARK<\/a><\/p>\n

Oscillator RSI<\/a> and CMO<\/a> are in no man\u2019s land. The stock is currently trading in the middle of the Bollinger band<\/a>s. Short-term technical just saw a bullish dragonfly doji<\/b> and a bearish<\/b> 18×4 SMA cross-over.<\/p>\n

The MACD<\/a> line is moving along the signal line since a month, not suggesting any directional move for the stock. Also, the Long-term and short-term GMMA<\/a> lines are contracting, unable to provide any outlook for the stock.<\/p>\n

\"GLENMARK<\/a><\/p>\n

GLENMARK\u2019s average correlation<\/a> with the Nifty<\/a> is 0.33<\/b> which is positive<\/b>. The scrip will be replicating movement of Nifty. [stockquote]NIFTYBEES[\/stockquote]<\/p>\n

\"GLENMARK<\/a><\/p>\n

GLENMARK has a historical volatility<\/a> in the range of 0.4 to 0.8. The scrip\u2019s volatility is currently in the middle of the range.<\/p>\n

Given these technicals, we suggest a short-term Hold. <\/b>A long-term call could be taken depending on the directional breakout of the pennant in formation. It is also suggested to have a tight trailing stop-losses<\/a> level to book profits in case of a sudden trend-reversal.<\/p>\n

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