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Published on 17/04/2018 4:22:34 PM | Source: Choice Broking Pvt Ltd

Buy Natco Pharma Ltd For Target Rs.895.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Pharma Sector #NATCO Pharma Ltd. #Trading Report #Choice Broking

* On a daily chart, the stock has given a breakout of its downward sloping trendline which indicates a bull run in the stock.

* Moreover, the stock has started to trade above its 50 Days Exponential Moving Average which shows a positive movement in the counter.

* Additionally, the volume activity is gradually increasing with rise in price which shows an accentuate buying activity in the counter.

* A daily momentum indicator RSI reading is at 60.27 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.


Recommendation

Buy NATCO Pharma Ltd @ 805-812 Stoploss 769 Target 895


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