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Natco pharma

Discussion in 'Technical Analysis' started by drsuraimardi, Jan 11, 2013.

  1. drsuraimardi

    drsuraimardi New Member

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    In wkly chart natco pharma has formed a cup and is forming a handle.So it is consolidating for some time.436 is a very good support.It can be bought around 440-450 levels with stoploss of 435 and the target is 507 and 538.Slow stochastic is falling so we can see some consolidation. Share your views.
     

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    drsuraimardi, Jan 11, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    True and on daily charts the stock shows consolidation as well and stochastic reflects the same.
     
    shabbir, Jan 12, 2013
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  3. krasquinha

    krasquinha Member

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    Shabbir,

    Can we consider the pattern on weekly chart as the valid one ? i thought chart pattern formation will be considered only on daily chart. Please comment.

    Regards,
    Kiran
     
    krasquinha, Jan 12, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    Kiran, why do you think some pattern is valid only for some input type and not on other. Yes weekly charts means the pattern is slow in formation compared to daily but that does not mean it will not be following the same patterns.
     
    shabbir, Jan 12, 2013
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  5. krasquinha

    krasquinha Member

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    Thanks Shabbir for your comment.
     
    krasquinha, Jan 12, 2013
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  6. yankeedin

    yankeedin Responder

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    But we should also consider volumes. Volumes traded are less daily in range of 20k to 40k. is 20 k to 40 k daily volume ok? Views please.
     
    yankeedin, Jan 12, 2013
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  7. shabbir

    shabbir Administrator Staff Member

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    20k Volume on a 400+ Rs stock is good volume for trading for retail investors
     
    shabbir, Jan 13, 2013
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  8. yankeedin

    yankeedin Responder

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    thanks Shabbir..i assumed atleast 50-60 k volumes for trading in any stk.
     
    yankeedin, Jan 14, 2013
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  9. drsuraimardi

    drsuraimardi New Member

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    Thanks Shabbir for your reply.I am not so regular these days because of my preoccupation.But you know you are my source of inspiration.From your e book I started learning technical analysis.Now I can do even elliot wave and fibronacci .Thanks once again.
     
    drsuraimardi, Jan 14, 2013
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  10. shabbir

    shabbir Administrator Staff Member

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    Thats good but then I prefer in Rupee terms and so any stock volume is more than 1 Crore, I am fine with it.

    The pleasure is all mine.
     
    shabbir, Jan 15, 2013
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