In today’s article, I shall examine two stocks that I have previously covered. These are Glenmark Life Sciences (NS:) and Zomato (NS:). I have chosen to do so as since my last article these stocks have performed as expected. Thus, it is now time to give readers a new perspective by delving into their price action.

Coming to Glenmark Life Sciences (GLS). The equity has been covered by me twice in the past. The first time I shared my analysis on the stock was via my Twitter handle, where I highlighted that I had made an entry into the stock at Rs. 419. Whilst, the second time was via an article on this platform. This is because the stock was then trading at Rs. 465, and I had expected it to do very well in the coming weeks. Thus, I had given a definitive price target of Rs. 620. 
 
Now, as of last week, the stock has managed to reach my price target. This is as on Friday, the equity had a close at Rs. 634. This represents an impressive return of roughly 48% from my initial tweet four months ago. On the other hand, a return of 36% from my article two months ago.
 
Now looking ahead, if Glenmark Life Sciences were to break the high of the prior week, then this could pave the way for an ascent towards my quant resistance levels at Rs. 712 and Rs. 815. However, if the stock does reach the Rs. 712 price level, then I expect it to take a temporary breather. This is because it will have to shake off some of the weak hands.
 
Now shifting my focus to Zomato. This is one equity that has seen its share of ups and downs, which has resulted in me covering it many times before. My previous bearish predictions on both platforms have materialized, as I had stated that I expected the stock to fall to Rs. 50 zone, and this did occur.
 
However, since April this year, my outlook for this stock has shifted as I turned bullish. Thus, owing to this, I have been gradually buying the stock, which has resulted in me holding the equity with an average entry price of Rs. 67, as shown below. This, in turn, has resulted in a return of 41% over 5 months, as the stock is now trading at Rs. 95.

Hence, instead of discussing the stock via the article, I have decided to make a YouTube Video on it, which is attached below or can be searched for if you are accessing this article via the app as the app will not show the video. In the video, I have elaborated on my purchasing rationale and the points I look for. Plus, I have also shared my upcoming targets.
 
In conclusion, I expect both equities to perform well in the coming weeks. However, the pace of the rise may now slow down. This is because both equities have risen rather sharply over the past few months. Lastly, when it comes to my positions, I plan to maintain them as they are. I will only fortify them with profit stops to safeguard the plus 40% gains we have made in a few months.

Disclaimer: The investments discussed by Sandeep Singh Ahluwalia may not be suitable for all investors. Thus, you must trust your analysis and judgment before making investment decisions. The report provided is for informational purposes only and should not be interpreted as a proposition to buy or sell any securities.