The stock had entered into the zone from which it had rebounded in the past.
If you search the news on 15th Feb 2019...the entire world was pessimistic about the Dr Reddys's.
The FDA was raising issue on the one of the most important manufacturing plants of the company.
The stock fell 30% and Recovered 26% ....All on the same day ?... who would be buying ..The entire world was wondering.
The Price came near the same zone twice and bounced back almost immediately.
Now it has broken a strong downward shaping confirming what was obvious.
I am forecasting that the price should reach near 2875 in the next few weeks.
With the innovative business model and low cost drug market expanding worlwide.. Dr Reddys is set for the moon.