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Price and trend forecast of GLS for Tomorrow, Weekly, Monthly

Glenmark Life Sciences Limited

Symbol: NSE:GLS

ISIN: INE03Q201024

858.10

As on 2024-06-13

555.85 (52W Low) 906.00 (52W High)

GLS's Today's Performance

Glenmark Life Sciences Limited started the day by opening at 873.00 today 2024-06-13. Its shares reached a high of 877.00 and dipped to a low of 855.00 in intraday. When the markets closed, GLS’s stock price settled at ₹858.10 per share. Also check out its key support and resistance levels.

GLS Buy/Sell Targets

Tomorrow, sell GLS when its price reaches ₹ 858.10 with a stop-loss order at ₹ 869.63. You can set the target price as ₹ 846.58 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of GLS for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for GLS

Downside Targets Value in ₹
Tomorrow Down Target 1 872
Tomorrow Down Target 2 885
Tomorrow Down Target 3 894

Important Levels for GLS

Holding Levels Value in ₹
Tomorrow Up Target 1 850
Tomorrow Up Target 2 841
Tomorrow Up Target 3 828
Based on where the stock opens tomorrow, if GLS opens on a positive note, our first target will be ₹872. If Target 1 is achieved, we will aim for Target 2 which is ₹885.

But if GLS falls below the average value of ₹863.37, you can enter a sell side position with target number 1 - ₹850 and second target - ₹841 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of GLS

Looking at GLS, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, GLS has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for GLS is moderate bullish.

Tomorrow's Volume based share price Forecast for GLS

GLS's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -44%.

Reversal detection for GLS

Predicted trend chart of GLS tomorrow for price forecast
GLS may trend may continue to be bearish since stock is making lower low and we can get target of ₹864 in morning tomorrow
Target 1 tomorrow872
Target 2 tomorrow877
Target 3 tomorrow885
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with GLS's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if GLS opens on a positive note, our first target will be ₹871.73. If Target 1 is achieved, we will aim for Target 2 which is ₹885.37.

But if GLS falls below the average value of ₹863.37, you can enter a sell side position with target number 1 - ₹849.73 and second target - ₹841.37

GLS's Weekly Targets
1st Up Target 876.73
2nd Up Target 895.37
1st Down Target 844.73
2nd Down Target 831.37

As the week for GLS ended on bearish sentiments, we can expect further continuation of this sentiment. GLS's initial target will be 876.73 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 844.73 in the upcoming week.

Weekly OHLC Values
Open 868.00
High 882.00
Low 850.00
Close 858.10

Week for GLS started with an open price of 868.00, and the close was at 858.10. GLS reached the highest of 882.00 and dipped lowest up to 850.00 last week. This indicates a bearish sentiment for the week.

GLS full month swing targets
Monthly Up Target 1 908.73
Monthly Up Target 2 927.37
Monthly Down Target 1 812.73
Monthly Down Target 2 767.37

Targets of ₹908.73 can be expected to be reached in the coming month. Once GLS achieved this target, we can aim for the next upside target of ₹927.37.

GLS if fails to hold upside, down targets of ₹812.73 and ₹767.37 can be achieved by end of this month.

For complete three weeks if GLS is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as GLS

Symbol Name Industry
SUNPHARMA Sun Pharmaceutical Industries Limited Drug Manufacturers - Specialty & Generic
CIPLA Cipla Limited Drug Manufacturers - General
DRREDDY Dr. Reddy's Laboratories Limited Drug Manufacturers - Specialty & Generic
ZYDUSLIFE Zydus Lifesciences Limited Drug Manufacturers - Specialty & Generic
APOLLOHOSP Apollo Hospitals Enterprise Limited Medical Care Facilities

Summary

GLS is expected to reach the target of 871.73 in tomorrow's trading session.

After achieving the initial target in GLS, we will aim for higher targets of 885.37 tomorrow.

However, if GLS starts to trade below ₹863.37, then we will shift our focus to the sell side and aim for down targets of 849.73 and 841.37.