When things arent going your way, bend the chart and make the technicals prove your thesis!
The monthly chart of Natco shows that its been travelling more or less within a parallel channel and is yet to complete an Impulse wave which began in 2002 and is most likely in the start of wave 5 (specifically completing wave 1 and undergoing corrective wave 2 of bigger...
Just when the profits of years of perseverance have begun rolling into the bank for Natco Pharma, the minority investors are in a spot of bother due to twin negative news of legal action in US pertaining to gRevlimid and the USFDA Form 483 with 8 observations during the Kothur plant inspection earlier in the month.
The legal action is of lesser concern as the...
The stock follows a trend giving great positional returns for short term moreover it can face
and certain drawback till the 841 levels in order to complete the pattern but after it nothing can stop it from breaching 992 and 1045 levels
NATCO PHARMA restricted Upside
520 Low (Mar-23)to 916 (Aug-2023) = 76% high
200 EMA = 650, Currently at 10 DMA support level of 840
Already Broke last 2 daily lows
Current Support at 835 and if brook then 785 / 700 levels
upside only after 917 break.
NATCOPHARM:- Stock has given strong breakout, if stock comes back for retesting then you can plan something
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to...
DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and...
After almost 8 months of consolidation decent upmove in last 1 month.
EMA cross over done. Cup and handle in making
Wait till it breaks resistance at 770 then sky is the limit. Should reach 1000 in 3 months if not early
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.
Natco Pharma is trading near breakout level. Keep on radar for closing above 780. Stock is changing trend after 2 years. Seems consolidation has been done and stock is getting ready for breakout. Company has announced excellent results for last quarter.
Investors are wary of Natco Pharma as it has failed to perform in earlier years when it was tipped to be the one. However, the fundamentals are painting a different picture, with a sublime Q4 performance, USFDA approval of its Vizag unit, drug launch approvals in US, subsidiaries in Canada and Mexico doing well, the seguey into agrochemicals...
