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Stock calls, July 4: Natco Pharma, Sharda Cropchem among top stocks to buy
Kunal Kamble Mumbai
Stock recommendations
Sharda Cropchem
Sharda Cropchem has given a breakout above its resistance level and closed higher, indicating buyer dominance. The rise in volume during the breakout confirms strong buying interest at current levels. The stock is trading above all major Exponential Moving Averages (EMAs), suggesting a firm positive trend.
The RSI, after a brief consolidation, has turned upward, supporting the ongoing price action. Additionally, DI+ trading above DI- signals a bullish stance, while the ADX above both DI lines reflects strength in the upmove.
The stock can be accumulated at current levels, with a stop-loss at ₹830 and an upside target of ₹998.
Sharda Cropchem: ₹886.90
Stop loss: ₹830
Monarch Networth Capital
Monarch Networth has given a breakout from its recent trading range, accompanied by a rise in volume, indicating buyer dominance over sellers. The stock has managed to close above all major EMAs, which suggests the trend remains positive.
The RSI is moving higher, supporting the ongoing price action. Additionally, DI+ trading above DI- indicates a bullish bias, while the ADX trading above DI− signals strength in the current upmove.
The stock can be accumulated in the range of ₹355–₹372, with a stop-loss at ₹337, for an upside target of ₹391–₹450.
Monarch Networth Capital: ₹371.95
Stop Loss: ₹337
Target Price: ₹391/₹450
Natco Pharma
Natco Pharma has taken support near the ₹890 level, which previously acted as a strong base from where the stock had rallied up to ₹1,639. Once again, buyers have stepped in at this level, pushing the price higher to ₹973, with the stock now closing above the 9, 21, and 50 EMAs on the weekly timeframe-a sign of emerging bullish momentum.
The rise in volume confirms buying interest at current levels. The RSI has crossed above the 50 mark, indicating improving momentum.
Additionally, on the weekly chart, DI+ has crossed above DI−, further supporting the positive outlook.
The stock can be accumulated on dips toward ₹912, with a stop-loss at ₹840, for an upside target of ₹1,140–₹1,200.
Natco Pharma: ₹973.60
Stop Loss: ₹840
Target Price: ₹1140/₹1200
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