PrasannaVasu

Dr Reddy - Flag it for profit

Short
NSE:DRREDDY   DR REDDYS LABS
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3
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
Comment: 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