NSE: Glenmark, HCL Tech See Bullish Momentum Turn
Glenmark Pharmaceuticals surged to Strong Bullish with an Altra Score of 91.7, while HCL Technologies turned Bullish. Both signal a momentum shift.
- Visit the stock pages: GLENMARK, HCLTECH
- Sector CNXPHARMA , which ranks #1 for Relative Strength (Altra Sector score of 91.0 with bullish regime.)
Amidst an improving broader market, as indicated by the NSE's Altra Market score of 60.8, which assesses overall market breadth through the percentage of stocks above key EMAs, a selective approach to identifying high-probability setups remains prudent. While the market breadth shows positive signs with 70.0% of stocks above their 20-day EMA, 66.0% above 50-day, and 58.0% above 200-day, the current advances/declines ratio of 14/36 suggests that strength isn't uniformly distributed. Within this context, two distinct stocks, Glenmark Pharmaceuticals and HCL Technologies, have recently signaled noteworthy shifts in their momentum profiles, moving into bullish territory on the Altra Score across different sectors.
GLENMARK (Glenmark Pharmaceuticals Ltd.)
Glenmark Pharmaceuticals experienced a significant and rapid acceleration in its momentum profile on August 5, 2026. Its Altra Score, a 0-100 momentum score per stock derived from EMA alignment and RSI trend across daily, weekly, and monthly timeframes, vaulted from a bearish 37.3 to a robust 91.7, classifying it as 'Strong Bullish.' The higher the Altra Score, the more bullish the momentum.
Following this dramatic shift, Glenmark maintains a strong momentum standing with a current Altra Score of 79.1, firmly in 'Bullish' territory. This robust performance aligns with the Nifty Pharma sector's overall strength. Nifty Pharma currently holds an Altra Sector score of 91.0, ranking as the #1 sector. The Altra Sector score applies the same kind of momentum assessment at the sector level, plus a relative-strength rank against other sectors in the same market. The sector itself is identified as a 'Confirmed leader, cooling off,' with a relative strength RSI of 74.9, suggesting it has established leadership but might be consolidating recent gains.
Glenmark's technical indicators support this bullish outlook. The stock's Relative Strength Index (RSI), a momentum oscillator measuring the speed and change of price movements, shows healthy readings across timeframes: 53.72 daily, 55.77 weekly, and a strong 69.14 monthly. Critically, Glenmark is positioned above its key Exponential Moving Averages (EMAs), which are commonly used to identify trend direction. Furthermore, it experienced a bullish Weekly EMA Crossover on June 6, 2025, indicating a significant positive shift in its intermediate-term trend. The stock is also identified as 'top-down aligned,' meaning its momentum is consistent and strong across all major daily, weekly, and monthly timeframes, reinforcing the conviction behind its high Altra Score.
HCLTECH (HCL Technologies Ltd.)
HCL Technologies also saw a positive momentum shift, though more nuanced, on August 6, 2026. Its Altra Score improved from a neutral 58.6 to a bullish 61.0. This move signals a positive turn in momentum, albeit not with the same explosive force seen in Glenmark.
This shift for HCL Technologies occurs within the Nifty IT sector, which presents a different picture than Pharma. Nifty IT has an Altra Sector score of 59.0, placing it at rank #3 and categorizing it as 'Neutral.' The sector's regime detail describes it as 'Not yet confirmed, gaining relative strength,' with a relative strength RSI of 51.6. This suggests that while the IT sector is showing signs of improvement in its relative strength, it has not yet established a clear leadership position or sustained bullish momentum comparable to the Pharma sector.
HCL Technologies' individual technical indicators reflect this mixed sectoral backdrop. Its daily RSI is a strong 65.5, indicating recent price strength. However, the weekly RSI is 54.06, and the monthly RSI is lower at 44.32, suggesting some divergence across timeframes. While the stock is currently trading above its key EMAs, a bearish Weekly EMA Crossover occurred on February 20, 2026. This indicates that despite the recent positive momentum pushing its Altra Score into bullish territory, the intermediate-term trend has faced headwinds. Consequently, HCL Technologies is not currently 'top-down aligned,' signaling that while daily momentum is improving, there isn't yet uniform bullish momentum across its weekly and monthly timeframes. This provides a more complex momentum profile compared to Glenmark's consistent multi-timeframe strength.
What is the Altra Score? The Altra Score is AltraOne's proprietary momentum score for individual stocks, ranging from 0 to 100. It measures EMA structure and RSI momentum across multiple timeframes. A score above 60 is Bullish, below 40 is Bearish, and 40–60 is Neutral. The score is updated every trading day after market close based on end-of-day data.
Explore the full Signal History on AltraOne to see every EMA crossover signal across your watchlist — going back 52 weeks. The weekly EMA crossover is AltraOne's highest-conviction intermediate momentum signal; the Signal History page lets you track how these have played out over time.
Altra Score is a momentum indicator reflecting EMA alignment and RSI trend across daily, weekly, and monthly timeframes. It is not investment advice. Past momentum does not guarantee future performance. Please consult a SEBI-registered advisor before making investment decisions.