DR Reddy Month timeframe..Big move in the offing

Month timeframe chart using simple trendlines...a triangular formation awaiting BIG move on either side.

Breakout above 3300 and breakdown below 2900.

On long term..rally will be treated as a corrective rally..assuming a multi year corrective phase.

Comment:

At the cusp of the triangle breakout OR breakdown. Significant action coming up on either side.

Trade active:

Bears make the move..by breaking the monthly trendline. Aggressively staying below 3003, expect sharp downsides. Conservatively holding below 3150, sell on rises mode continues.

Trade active:

Bears are now following up with a strong sell off. Sustaining below 2800 is disastrous for bulls with a potential to slide to 2200 to 2000 levels ( worst case scenario )

Trade active:

The crackdown in Dr Reddy continues with another 4% cut. Trade continues from 3100 to 2600 and ongoing....