nitinshm

DRREDDY, Long for 20% gain

Long
NSE:DRREDDY   DR REDDYS LABS
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2
corrective wave is over, bouncinf off 0.618 fib level

first target is All time high, followed by 6000+ (next targets are marked on chart)

SL: close below recent low
Trade active
Comment: It made a bearish engulfing on 11/25. So now, a close above 5009 only would open upside. Stock may be sideways till this supply is exhausted.

1. Exit at cost and wait for a bullish close above 5009
OR
2. Keep is trade with stoploss of 4650
Comment: 10% profits so far. trade going as planned.