Slow and steady Natco getting ready for another hop, skip & jump
Updated
While the market is rife with speculation of specific stocks and sectors getting a boost due to possible budget discretionary impact I continue to focus on Natco Pharmas steady rise in price as it begins to start the catch up with its stellar business performance...
One can see the bollinger band reducing now and the share price coiling up within a triangle like boundary... a successful breakout can lead to 1339 as a possible destination and that also opens up a flag pattern BO which can ultimately lead to 1500+
Its just my personal opinion of what the Q1 results may throw up if the same is positive... have kept a stop loss of close below 1120 technically speaking, from a trading perspective... fundamentally it merits a higher pecking order in the pharma stable but the market is what it is... no point arguing with it
One can see the bollinger band reducing now and the share price coiling up within a triangle like boundary... a successful breakout can lead to 1339 as a possible destination and that also opens up a flag pattern BO which can ultimately lead to 1500+
Its just my personal opinion of what the Q1 results may throw up if the same is positive... have kept a stop loss of close below 1120 technically speaking, from a trading perspective... fundamentally it merits a higher pecking order in the pharma stable but the market is what it is... no point arguing with it
Note
target 1 has been achieved...now for the next one..the stars need to be aligned for this one ;)Trade closed: target reached
both targets achieved
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