NATCO PHARMA

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I am hold­ing Natco bought at Rs 740 con­sid­er­ing it to be a sup­port, but the stock fell af­ter that. What to do now?

- Prem­c­hand Bhandari

HOLD NATCO PHARMA WITH A STOP LOSS OF RS 678

Natco Pharma is cur­rently trad­ing at Rs 720.45. Its 52-week high/low stand at Rs 1061.95/Rs 637.40 made on De­cem­ber 15, 2017 and Oc­to­ber 9, 2018, re­spec­tively. The stock gave an as­cend­ing tri­an­gle pat­tern break­down on Septem­ber 27 at Rs 766 and thereby wit­nessed a con­sis­tent fall of up to its 52-week low lev­els. The stock hit a ham­mer-like pat­tern and thereby wit­nessed re­ver­sal, where we can see a V-pat­tern in the mak­ing. In case the stock hits above Rs 760-770 lev­els on a clos­ing ba­sis, we may see the stock ral­ly­ing up­wards. Oth­er­wise, it would re­treat again af­ter a pull­back ei­ther from the cur­rent lev­els or af­ter test­ing the lower trend­line. We sug­gest you to hold with a stop loss of Rs 678

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