Here's a derivative strategy on Glenmark Pharma by HDFC Securities

Buy Glenmark Future at Rs 349

Target: Rs 360

Stop loss: Rs 343

Lot Size: 1,400

Rationale:

-- Long build-up was seen in the Glenmark Futures yesterday where we have seen 3 per cent(Prov) rise in the Open Interest with price moving up by 1 per cent.
 

-- Primary trend of the stock is positive where the stock price is trading above its 100 and 200-day SMA
 

-- The stock price has broken out on the daily chart yesterday to close at four-month high with higher volumes
 

-- RSI Oscillators is placed near 65 level on the daily chart Indicating bullish