On daily chart, Glenmark is in bull run since last couple of months. Recently it broke out of downward trading channel on 31st oct 12 and now sustaining well above it (as shown with dotted line). Stock is trading near its 52 week high price and also well above its key moving averages. This all indicate that current bullish trend in the stock is likely to continue, but traders/investors have to be cautious while buying this stock at CMP (440) as it is trading at its 52 week high levle. It can be bought for short term target of 470-480 with strict stop loss at 420.
