glenmark looks bearish in medium term

in weekly, wave C is going on.

in closure look, there are a lot much left of wave C.

wave B retraced 50% of wave A, so wave C should be extended.

Now counting the fractals of wave C shows that, sub wave going on.

looking at the retracement levels it can plunge below 560 levels. So one should exit in every bounce.

Note: this is for educational purpose.

Trade aktif:

till now 668.25

Trade aktif:

till now 632.60, getting beaten quite severely.

Trade aktif:

till now 610.90

Komentar:

updated wave count :

Trade aktif:

still going down , closed at 601

Komentar:

regular bullish divergence in daily at horizontal support. short term bounce is eminent.

Komentar:

Komentar:

after short term bounce, long term is resumed here, it has broken the horizontal support and moving lower,

Komentar:

sorry for posting the wrong chart here,

here is the right one

Komentar:

cmp - 515.70,

in weekly, it is in descending channel, downtrend continues....