Should you buy Glenmark Pharma, JB Chemicals shares after recent highs? Here’s what Kiran Jani says
For Glenmark, Jani placed the accumulation zone between Rs 2,150 and Rs 2,200. He said investors should maintain a strict stop-loss below Rs 2,100.
- Mar 13, 2026,
- Updated Mar 13, 2026 2:45 PM IST
Domestic equity markets are witnessing a downtrend, fueled by geopolitical tensions in West Asia, surging crude oil prices, and foreign outflows. Amid this, Kiran Jani, Head of Technical Research at Jainam Broking, spoke about two stocks that they like, which are Glenmark Pharmaceuticals Ltd and JB Chemicals & Pharmaceuticals Ltd.
On Friday at last check, Glenmark Pharma shares declined 3.14 per cent to Rs 2187.10 on the BSE. Earlier in the week, the stock had scaled a 52-week high of Rs 2,297.20 on Wednesday.
Similarly, JB Chemicals stock was trading 1.18 per cent lower at Rs 2106.60, just a day after touching its 52-week high of Rs 2,140.25 on Thursday.
Jani is bullish on Glenmark Pharma. In an interaction with Business Today, Jani said “we are advising our client to put their money into the mid- and small companies, like two companies which we are liking, one from the pharma, Glenmark Pharma.”
He noted that the stock is currently retesting its breakout levels. "We are not advising client to go long at one single price, have a break, buy an installment as an SIP," Jani advised.
For Glenmark, Jani placed the accumulation zone between Rs 2,150 and Rs 2,200. He said investors should maintain a strict stop-loss below Rs 2,100. If the support holds, Jani expects the stock to deliver a "very sharp move," projecting targets of Rs 2,400 to Rs 2,500.
Jani's second preferred pick is JB Chemicals, a stock exhibiting strong relative strength and trading near its all-time highs. For this counter, the Jani identified an accumulation zone between Rs 2,050 and Rs 2,100. He recommended a strict stop-loss below Rs 2,000 for these positions. Looking ahead, Jani has set a price target of Rs 2,200 for JB Chemicals, noting that the overall chart setup "looks very much promising."
Domestic equity markets are witnessing a downtrend, fueled by geopolitical tensions in West Asia, surging crude oil prices, and foreign outflows. Amid this, Kiran Jani, Head of Technical Research at Jainam Broking, spoke about two stocks that they like, which are Glenmark Pharmaceuticals Ltd and JB Chemicals & Pharmaceuticals Ltd.
On Friday at last check, Glenmark Pharma shares declined 3.14 per cent to Rs 2187.10 on the BSE. Earlier in the week, the stock had scaled a 52-week high of Rs 2,297.20 on Wednesday.
Similarly, JB Chemicals stock was trading 1.18 per cent lower at Rs 2106.60, just a day after touching its 52-week high of Rs 2,140.25 on Thursday.
Jani is bullish on Glenmark Pharma. In an interaction with Business Today, Jani said “we are advising our client to put their money into the mid- and small companies, like two companies which we are liking, one from the pharma, Glenmark Pharma.”
He noted that the stock is currently retesting its breakout levels. "We are not advising client to go long at one single price, have a break, buy an installment as an SIP," Jani advised.
For Glenmark, Jani placed the accumulation zone between Rs 2,150 and Rs 2,200. He said investors should maintain a strict stop-loss below Rs 2,100. If the support holds, Jani expects the stock to deliver a "very sharp move," projecting targets of Rs 2,400 to Rs 2,500.
Jani's second preferred pick is JB Chemicals, a stock exhibiting strong relative strength and trading near its all-time highs. For this counter, the Jani identified an accumulation zone between Rs 2,050 and Rs 2,100. He recommended a strict stop-loss below Rs 2,000 for these positions. Looking ahead, Jani has set a price target of Rs 2,200 for JB Chemicals, noting that the overall chart setup "looks very much promising."