n the previous session, market had a consolidation move with a negative bias throughout the day. The Nifty index opened on a positive note but soon slipped into negative territory. The Index formed a Bearish Engulfing Candle on the daily chart. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for Wednesday, March 29,2023′ before the market opens.

Glenmark Pharmaceuticals Ltd

Glenmark Pharma on the hourly chart has decisively broken out above the resistance line placed at 444-445 levels indicating a short term bullish uptrend. The breakout is accompanied with an increase in volume confirming participation at breakout level. The stock is forming a higher high-low on the hourly chart. In addition, The Relative Strength Index (RSI) on the daily chart is 61 and it is moving near previous high.

The short-term trend for GLENMARK looks to be positive for now. Positions can be created around current levels, which can take prices towards 461 levels. On the other side, level 438 will act as key support for the stock.

Check More Analysis on GLENMARK at: Glenmark Pharmaceuticals Ltd