Trading Plan for Natco Pharma

Mar 17

Hello Trading community and my friends so as we all know that our Trading it should must contains some logics based on price action, indicators and trading strategies etcetera so i find out here some logics for my upcoming trade in Natco pharma sharing with all of you hope all of you like it.

So as we can see on provided daily chart that price gives a very bullish breakout of 16th February 2024 with the closure candle of 15% that day and after came down and seems that it is retesting breakout and trying to bounce from there with the help of 50 Day moving average too.

So mates i make a very simple trading plan for this trade that after recent swing high of (1100 levels) price came down and tried to move above in breakout direction and getting rejections from 985 levels after retesting i marked this level as a strong resistance area so if we will get a closing above that resistance we can see the recent swing high again as a target one for this trade, and if price will break recent swing high too and closes above we can see a measured target of between swing high and swing low made after breakout and that is more 19% from recent swing high. 930 will act as a good support after the activation of long side trade which earlier was a strong resistance.

This publication is meant for only learning purpose, it is not any kind of trading advice.

Best Regards- Amit (Do boost my publication if you really like it mates)

“Do more of what works and less of what doesn’t”. - Steve Clark

Mar 19

Note

Hi friends, mates and trading community so i am updating this publication as trade plan is working according to mentioned description as today price want to break marked resistance but got rejections exactly from resistance zone so by this thing teaches us that if our support and resistance markings are correct we can avoid to take false entries in any asset and after this move i assume that it can move good up after the breakout of resistance as i am waiting too according to my trade plan entry. Thanks for reading and supporting my idea friends. Sharing rejection snapshot below.

Apr 3

Note

Resistance breakout update-: So after the wait of many sessions after publication yesterday price gives a breakout above resistance and closed above too so from here if price will sustain above that resistance we can see marked targets soon and this resistance can act as a support too. Hope for good thank for reading and supporting my idea

May 28

Note

Target One of 1100 complete today by today's high, Now taking 50% gains from trade position and for remaining trade position i will trail stop loss on cost price

Jun 11

Note

Hello mates updating this idea as currently price is breaking target resistance one, after completing target one price took resistance from there so if price will close above target one we can see final marked target too in coming sessions and considering this move as a fresh breakout. So far reached 1150 from 995 levels gained 15% from this trade position. Thanks for reading and supporting idea mates.

Jun 14

Note

Hello friends sharing an update that price currently trading above a all time high resistance which is a three years old resistance too sharing in this snapshot so if price will close above this then we will consider as a fresh all time high breakout and i assume that by this breakout we can see our final marked target soon in coming sessions, For this sharing a weekly chart for better view of a s resistance breakout. Price reached 1229 today from breakout entry of 995 and gained 23% so far by this trade position.

Weekly Chart-:


Published Chart
Showing a resistance breakout too on published daily chart sharing below

Jul 16

Note

Hello mates updating this idea after many sessions as price reached 1305 today very close to marked final target of 1318 in idea and gained 30% so far from marked breakout entry point so apart of this i am updating this idea with a technical point of view and that is we can see price is breaking a recent swing high which it made after completing target one and now price breached that high too and trading above so if it will close above that high can go much up from final marked target too but i will close my trade position on target so you will consider this as a second last update for this idea as some only points is remaining for completing the last target, Next i will update only when it will reach there.

Jul 24

Trade closed: target reached

The much awaited target came today and finally I got a gain of 40% from this trading position, I am very happy actually recently on 18th July also the high price of 1311 came but it was 9 points less than the narked target hence I did not think it right to update the idea on that day and now I am closing this idea with a good target thanks for reading and liking my post.