Published on 7/07/2020 3:09:13 PM | Source: HDFC Securities Ltd

Technical Pick , E-Margin -  Buy Natco Pharma Ltd For Target Rs. 770 - HDFC Securities

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

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Technical Pick , E-Margin - Buy Natco Pharma Ltd For Target Rs. 770 -  HDFC Securities

Technical Evidences

* Stock price has broken out from the downward slopping trendline

* Stock Price is taking support at 20-daySMA for last few days

* Short term trend ispositiveas 5-daySMA is trading above 20-daySMA

* Daily RSI oscillator (11)has reached 65 levelon the daily chart, indicating sustainability of the existing trend

* +DI is trading above the -DI, indicatingbulls are having an upper hand

* MACD is trading above the central line

* Stock price has risen on 03-Julywith higher volumes

* Considering the technical evidences discussed above, we recommend buying Natco Pharmain two tranches, one between CMPof 663-674and second at625for the targetsof735and770, keeping a stop lossat 595

Buy Natco Pharma Ltd Up to 3 Months @ 663-674 CMP 663.10 Target 735-770 SL 595


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