Dr Reddy - Flag it for profit
Updated
Dr. Reddy's is trending up in Higher Time Frames. After recent explosive move, stock is consolidating. Thereby forming a Flag formation in Daily Charts. CMP is coinciding with .618 Fib Retracement.
Trade Set Up. Enter @ CMP(4670) SL : 2% from Entry. Target 1 : 4900 Target 2: 5025.
Its offering 3:1 RR
Trade Set Up. Enter @ CMP(4670) SL : 2% from Entry. Target 1 : 4900 Target 2: 5025.
Its offering 3:1 RR
Note
Trade worked as planned. Achieved 2:1 RR. Booked profit on 50% position.Trade closed: target reached
Target 1 Achieved. 25% position square off.Trade closed: target reached
Target 2 also achieved. Closed balance position. Made 3:1 RR
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