GLENMARK is in for deeper correction? Best chart to learn WavesGlenmark Pharmaceuticals LimitedNSE:GLENMARKMurthy_Santhosh CMP: 2233 TF: Daily The chart seem to have completed the Primary impulse cycle from 2020 (161 to 2474) - Counts marked in Blue The chart set up has almost everything from the Elliott Wave Perspective and one of the clean and easy to understand structures to learn basic wave theory. The subwaves too are very clearn, be it the 4th wave correction from OCT'24 through March'25 OR the 5th wave move from March 25 lows till the high made in Jun-2026. Not to mention the final 5th from Nov 2025 to June 2026 being the Grinding distribution move The aforementioned internal counts are marked herein for learning and better understanding Classic Price action/Technical analysis suggests that it is trading in the ATH territory with bullish bias (and the whole sector is bullish for quite some time now) Chart on Other Technical tools/indicators: Cloud: Price is giving up on the cloud in Daily TF. Future cloud turned Red, price broke and sustained below the cloud. EMAs: Price is trading above the 200 DEMA as well as the key short/medium term EMA (10,20 and 50) - Still bullish Just because I feel that this has completed 5 waves, you dont have to initiate shorts. Stock is still with bullish bias, but you need to be cautious if you are considering and/or carrying long positions Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.