GLENMARK: Gradual Recovery with Breakout Attempt

Glenmark Pharmaceuticals has shown a steady recovery after forming a base near the ₹1800–₹1850 zone. The chart indicates that the stock has gradually shifted from a corrective phase into a mild uptrend. Price action is currently trading above most short-term moving averages, which signals improving bullish momentum in the near term. The stock recently moved toward the upper band of the Bollinger Bands, suggesting expansion in volatility along with buying interest. Sustaining above the ₹2120–₹2140 zone could open the path for further upside toward the ₹2220–₹2250 levels. This zone may act as the next immediate resistance. On the downside, the ₹2040–₹2000 area appears to be a strong support zone as multiple moving averages are clustered in this region. Any dip toward this level could attract buying interest. A breakdown below ₹1980 may weaken the current bullish structure and trigger some consolidation. Momentum indicators are also supportive. The RSI is hovering near the 50–60 zone, indicating improving strength without entering overbought territory. This suggests that there may still be room for further upside if buying momentum continues. Overall, the broader structure indicates that Glenmark is attempting to establish a higher-low formation after a corrective phase. As long as the stock sustains above ₹2000, the bias may remain positive with a gradual upward trajectory. !GLENMARK