Dr. Reddy – Breakout

With Pharma sector looking all set for a second leg of rally, many pharma stocks have given a breakout.

I can see that Dr . Reddy NSE:DRREDDY has broken out of the corrective channel which started after a long leg of upmove to begin next leg of rally.

So long as the stock stays above 2200 levels, looks like it is heading towards 2450 and 2600 levels.

Good opportunity to go long here with a small stop loss.

Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.


Be careful...Pharma index is formed a Double top pattern today. Tomorrow we will know if it is showing a short term trend reversal.

looks like a perfect bullish flag and post pattern great catch.
@shiv0110, yes indeed ..Thanks !!
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