Dr Reddys lab view

CMP 2198

Dr Reddys lab has given a nice breakout and the stock can be heading higher over medium term
Buying on dips can be considered

Targets

2320 / 2403 / 2520 / 2600


Immediate support around 2160

Stop below 2100

Do review your trading plan and
plan your trade accordingly

Take care & safe trading...!!!

Trade active:

We have got the dip we were looking for....
Dr Reddy came down and has tested its breakout zone

Trade active:

We entered when Dr reddy gave a dip at 2140.

Cmp 2245.

Now as a hedge strategy we buy dr reddy 2200 put option at 40.

Now we continue to hold our position for upside target of 2400+ in peace without any worry at all.... :-)


As the strategy will ensure profitability below 2160 through put option thereby locking a minimum profit of 200* 20 ie. rs 4000 even in worst case situation imaginable

happy trading...!!!