Glenmark Pharmaceuticals (₹2,053.50)
Rebounds from a support
For over a month, the stock of Glenmark Pharmaceuticals has been in a downtrend. But last week, it bounced off the support at ₹1,900 and posted a gain of nearly 7 per cent. Considering that the long-term trend is bullish, last week’s rally can be the trigger for the stock to resume the uptrend. We expect it to appreciate to ₹2,400 over the medium term.
Therefore, participants can consider buying the stock at ₹2,050 and accumulate at ₹1,930. Place stop-loss at ₹1,800. When the price rises to ₹2,200, trail the stop-loss to ₹2,080. When the stock touches ₹2,300, revise the stop-loss to ₹2,230. Exit at ₹2,400.
Hyundai Motor India (₹2,544.45)
Set to rally
The stock of Hyundai Motor India has largely been flat over the past couple of weeks. Nevertheless, the broader outlook is bullish. The chart suggests that the sideways consolidation may end soon. While we cannot reject the possibility of a decline in price, possibly to ₹2,400, eventually, the stock will establish another leg of rally.
That upward move can take it to ₹2,880. So, buy now at ₹2,544 and accumulate at ₹2,430. Keep stop-loss at ₹2,350. When the price hits ₹2,700, raise the stop-loss to ₹2,580. Move the stop-loss higher to ₹2,720 when the stock rises to ₹2,800. Exit at ₹2,880.
Lemon Tree Hotels (₹175.20)
Positive indications on the chart
The stock of Lemon Tree Hotels broke out of a trendline resistance at ₹165 in mid-August. While there was some moderation post this uptick in price, it now seems to have aligned back with the broader uptrend by rallying last week. The price action gives positive indications and the probability for further rally is high.
The stock has the potential to touch ₹200 in the near future. So, one can buy the stock now at ₹175 and accumulate at ₹165. Place a stop-loss at ₹155. When the stock reaches ₹185, raise the stop-loss to ₹175. Tighten the stop-loss to ₹185 when the price rises to ₹192. Book profits at ₹200.
Published on September 6, 2025
