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Natco Pharma- A beautiful pattern mirroring!This will remain as one of my most favourite idea if breakout goes successful. Trade logic: An inverted head and shoulder breakout is on the cards. The most exciting and unique observation from this chart is that a similar IHNS breakout happened in 2021. But the breakout failed. However, the stock again has created an inverted head and shoulder pattern with the same neckline in a much lesser time compared to previous pattern. (4 years then vs 2.5 years now) Stock has cranked up its volume getting ready for a good breakout. Confirmation above 920. I wont be surprised if this stock breaches ATH levels if the breakout is successful. A good pharma stock from investment perspective as well. Keep in watchlist. Do like, comment and follow for such more ideas!
NSE:NATCOPHARMLong
by chartistamey
1
Will Nifty see Year end Dhamaka rally...???Nifty 13749 2 trading sessions earlier, we had highlighted the possibility of Nifty re-testing at least previous highs Although we did not take any fresh position in Nifty on weekly expiry day, we held on to our positions taken earlier. Currently - We observe Nifty moving in boxes - Will we see a Year end rally now? No it is not that since we are now just 250 odd points away that we are saying it... Flashback … on August 04th, 2020, when Nifty was at 11000, this is what we had predicted… Nifty heading towards 14200 odd levels in next 6 months… This was in the back drop of economy being at a standstill, and hence difficult for any one to even think of 12000. Many felt Nifty might head back lower sub 10000 levels and probably even towards 8000 levels.. It seemed ridiculous at that time, but here we are; 5 months down the line and Nifty very close to it. 😊😊 Click the link above and see how historical price pattern of 2006-2007 in Sensex price (very similar levels… very much similar magnitude of correction… and not much difference in time frame too) helped us envision this movement in Nifty. I am sure the co-relation would amaze you and help you realize the potential of Technical Analysis. Coming back to our present day… Chart and Data analysis suggest (for a detailed analysis report of FIIs and Retail participants kindly share your email address in comment below or in private message) there could be support at lower levels On any dips in Nifty, one may consider selling Nifty 13600 Put option preferably around 60. Max profit potential Rs 4500/- per lot. More importantly, the strategy would have an in built loss protection for a fall in price up to 13540 till 31st December 2020. We would update further on this idea, Monday morning in market hours. Take care & safe trading…!!! Wish you a Merry Christmas and a Happy New year…!!! If you find value Do Hit the Like button. Join & Follow me for more such ideas. Our other ideas this week... - LIC HSG FIN - ONGC - BHEL - Tata Motors - Adani power Disclaimer: - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTYLong
by indiamarketoutlook
8
Nifty: Fasten your seat belts... be ready for what comes next...Nifty Closing Price 13258 If we observe the current rally and co-relate with structure we saw in Jan - Feb 2020, we observe that it has completed a mirror image pattern to the tune of 50% - the current channel size matches the size of red channel - the upward slope in blue channel matches the downward slope in red channel So far so good.... (When we had posted the idea Is Nifty heading towards 13240.... on 19 Nov 2020, this was the vision behind the idea...) However the job is not done here. This only keeps me alert not to get too carried away. Although things look very bullish, there is a possibility of Nifty trying to retest sub 13000 levels. I'm not bearish as such but I am open to the idea of Nifty taking a pause before it unleashes the next level of up tick possibly some time early next year.... So on any dips I would keep an open eye to accumulate quality stocks to go Long. Remember "It is not who is right, but what is right, that is of importance." - Thomas Huxley and we should always respect what price tells us. The pattern would get invalidated if Nifty closes below 12430 odd levels Do Hit Like button / comment below and let me know what you think of this... Follow and learn Best wishes Take care & safe trading...!!! Disclaimer: - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTY
by indiamarketoutlook
6