NATCOPHARM:- Stock has given strong breakout, if stock comes back for retesting then you can plan something
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As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Natco pharma has broken out from a flag pattern on the daily timeframe with the next resistance at 770. Technically this is a buy signal with the stop below the day's low.
a reversal can be seen in Natco Pharma, after falling for many months Natco Pharma has formed a cup and handle pattern which can be seen in the charts, it can easily give targets of 750!!
and if it goes beyond many more targets can be unlocked :)
Natco Pharma near its long term support of the range 470-500.
Per the chart pattern expecting some upmove in near term.If sustains the possible for 680-780 levels. Need volume to reach those levels.
No recommendations, just my view based on the chart.
Natcopharma analysis for long term.
1. Price came from all time high
2. Price got support from Monthly demand zone.
3. On daily time frame all supply are tested
except one 1049-1014
4. Waiting some formation to get entry
5. Target New all time high
Natcopharma Long
Crossed strong resistance and all moving averages
RSI-67
Buy at CMP- 920
SL- 889
Target- 957, 992, 1032
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Good Morning,
Get Ready for a Roller Coaster Day.
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