Natco Pharma Limited

🔹 Structure Analysis (What the Chart Is Saying) From recent swing high (~₹950 zone): Controlled decline into ₹810–820 Formation of a rounded base / saucer pattern Higher lows developing Sharp expansion candle reclaiming ₹890 supply Today’s candle: ✔ Wide range ✔ Strong close near highs ✔ Volume expansion ✔ Breakout above horizontal resistance This is not a random bounce — this is structure reclaim. 🔹 Elliott Wave View Short-term structure likely: Wave A: Sharp drop from ₹950 Wave B: Relief bounce Wave C: Rounded base completion near ₹810 Now initiating potential Wave 1 of new impulsive leg. If momentum sustains: Immediate target: ₹980 Extension: ₹1,020 zone That aligns with your marked ~9–10% measured move. 🔹 AVWAP Perspective If anchored from: Recent swing high (~₹950) Breakdown pivot (~₹890) Price has reclaimed the breakdown AVWAP. This often signals: ✔ Short covering ✔ Fresh institutional entry ✔ Change of polarity 🔹 Volume Confirmation Volume spike on breakout is critical. You don’t want low participation breakouts in pharma — they fail quickly. This one shows: ✔ Above recent average ✔ Strong demand candle 🔹 Key Levels Immediate Support: ₹890–895 (breakout zone) Secondary Support: ₹860 (base midpoint) Structure Failure: Close below ₹840