Cup & Handle Breakout
Retest level 935
Taken support 9 EMA and bounced
support 845
RSI above 60 Weekly / Monthly
Daily RSI 58
EMA are in line
Expected level 1189 and above
NATCO PHARMA made a rounding bottom and later completed the cup and handle pattern.
The stock is trying to reverse from the 38% retracement from the top it made recently. If it reverses we can aim for the target of 1240-1300-1350-1500-1600.
Targets or studies are based on my analysis and shouldn't be considered as BUY/ SELL recommendation.
16-02-2024
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Buy NATCOPHARMA @CMP
Target of 1094-1190-1314-1383
SL 832
Strategy : SBO + RSI > 60 + EMA above 20 & 50
Duration few weeks
Please consult your financial advisor before investing
All research for educational purposes only.
This is about to make breakout of its multi-year w-pattern / volatility contraction.
Pharma being at the good position, makes it more attractive.
With recent financial exceeding estimates indicate that the company is inline with what chart is projecting.
What do you think? Will its price sustain above 1000-1100 level?
Stock name = Natco Pharma Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Master Score - B
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling...
Natco is trading in a symmetrical triangle chart pattern . It is expected to break towards upside where we can see a rally until 1000 + .
if it break the bottom of the triangle then it dont go for it. Wait for the line breakout and enter.
Disclaimer : Only for learning Purpose and not a trading recommendation
Entry Possible above 950 level
SL - 720
Short term Target - 1190
Long term Target - 1500
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you...
On the way to forming inverted head and shoulders in weekly timeframe. Always your Risk Reward Ratio keep in mind. It's only my view not a recommendation.
Breakout trading implementation:
1. **Identifying New Trends:** Breakout trading helps traders identify the beginning of new trends by focusing on price levels where an asset breaks out of its historical trading range.
2. **Volatility Indicator:** Breakouts often occur when there's increased volatility in the market. Monitoring breakouts can provide insights...
Potential reverse head & shoulder pattern forming in NATCO PHARMA LTD.
Fundamentals are quite good with highest ever net profit in Q1 2023
Expecting entry around 790 level with the technical target of 1350 (70% ROI)
Stop loss below 750 (optional)
Do your own due diligence before taking any action.
Peace!!
Natco pharma intraday view for 9th Aug
Buy entry above 881 sl area around 872
Charts for Educational purposes only.
Strictly follow Risk Reward and Stop Loss if you consider the level
Thanks,
V Trade Point
Natcopharma on its daily chart has broken out of its consolidation & has managed to close above it, qualifying it for a BUY.
Its an observation & not a suggestion.
Looks excellent both technically and fundamentally
Might face hiccups at 724 but overall a a good chart.
Safe entry closing above 710
Levels are marked on the chart
