Technical Analysis of GLENMARK & RADICO

Stock name: Glenmark Pharmaceuticals Ltd.

Pattern: Flag and pole pattern

Time frame: Weekly

Observation:

Experiencing a swift ascent from March 2023 to September 2023, the stock then underwent a consolidation phase, adopting a sideways trajectory until January 2024. During this period, a flag and pole pattern materialized on the weekly chart. January 2024 marked a breakout, accompanied by above average trading volume and a favourable MACD indicator signal. Despite the breakout, the stock has maintained its lateral movement. According to technical analysis, if the stock is able to gain a momentum, it may propel the stock upward in the future.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: Radico Khaitan Ltd.

Pattern: Cup and handle pattern

Time frame: Weekly

Observation:

The stock has exhibited a consistent upward trajectory. From January 2022 to November 2023, a cup and handle pattern emerged on the weekly chart, culminating in a breakout at the close of November 2023. The breakout was substantiated by a notable surge in trading volume. Subsequent to the breakout, the stock continued its ascent. As per technical analysis if the current momentum is sustained then the stock may see further upward movement.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

 

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