Welcome to the month of volatility for the Magic Pill

February 2024 is the month of volatility and true to form even technical resistance lines are hovering above .. the final decision of the usfda over the kothur plant inspection will be out and the q3 expected blip in the results due to the accounting policy of the booking sales and profit share of gRevlimid drug .. Meanwhile the API plant in Manali, Chennai is back running post a brief halt in production due to flooding issues in the vicinity and the US lawsuit against the company has been dropped while the export oriented production units of the company must be busy manufacturing gRevlimid for the new calendar year at higher volumes than the previous year.. bottom line.. hold her steady!

Comment:

While the horizontal INHS is the most obvious pattern to the naked eye, there is also a slanting INHS, the targets of both are in the same range but the retest area is different.. 930 zone for the horizontal one and 1010 for the slanting one.. perhaps the USFDA news will influence further downside action or not... Q4 results are quite a way out and we will get bored as Natco Pharma usually announces results at the fag end of the time period stipulated which is generally May 30...so many will book profits and check for upside possibilities at a later period.. this is a personal choice but price action may not be obvious all the time