Glenmark Pharma - Analysis for Intraday and Swing Trading

Glenmark Pharma is the stock that we are going to analyse today based on Open Interest and Change in Open Interest for swing as well as Intraday Trade. We also check the Trend Cycles of it. Before this, we have analyzed HDFC Bank : You can check here.

Glenmark Pharma  Option Front :
Glenmark Pharma has given closing at 402.5 on 5^th June 2020. Highest call open interest is at 450 strike price, followed by 400 and highest Open interest at put side is at 400 strike followed by 350.

Trading Range Of Glenmark Pharma 

Now time to find out the trading range of the Glenmark Pharma. For this purpose, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the Glenmark Pharma. Trading range seems to be 350 to 450.

1. Highest Call at 450. 

2. Highest Put at 400. 

1. Pivot Strike at 400.

Highest call acts as the highest resistance and highest put will act as the highest support for the stocks.

Trend Cycles

 

Glenmark Trend Cycles

Conclusion:

Glenmark Pharma is near at very important support that is 400. If it sustains below 400 then some move towards 375 and 350 can be seen. And if able to sustain above the support at 400, we can see some move towards 425 and 450. 

This may take 6 to 7 trading days to happen. In the last two days, Glenmark Pharma has given long-long. If we get another long then 450 will be on the cards otherwise 375 and 350 can be seen. These all depend on the pivot level 400 as it is the make or break level for the Glenmark Pharma.

Disclaimer: The analysis has been prepared for informational and educational purposes only. It is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.

 You can check here Daily Nifty and Bank Nifty Analysis.

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