DrReddy- Dramatic Reversal- Selling the Tops@5400

Ending Diagonal / Truncation / Extension all have the same message loud & clear - "Dramatic Reversal"



Snapshot Taken on 11th Jan2021- Structure Finishes or Possible Finish with Ending Diagonal/Wedge- What Next? - A Dramatic Reversal

Warning Suggested @ 10th Jan2021 - Be Careful At The Tops

Updated & warned on the last idea @ 10th Jan2021, when stock started falling back below 5225 / 5200 -which was key zone for the stock

Running close to 1st target - 4700

Candlestick Patterns confirming the bearish outlook at the tops

• Hanging Man
  
  Shooting Star
  
  Evening Star ( Possible Candlestick as it is running currently)
  

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Last Idea @ 26th Dec2020- Dr Reddy- Hanging Man - Top Reversal Candlestick Pattern @ 5200
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Comment:

11:00 Hrs / 28th Jan2021

Last Price @ 4880


Intraday - this stock also has false breakdown as suggested on the idea of Reliance update- Important support 1890-1900

Dr.reddy made low @ 4777 which is false breakdown & bouncing upside

Trade active:

11:58 Hrs / 28th Jan2021

Last Price @ 4876

Once stock crosses ----above 4900--- which is psychological level- It has potential do intra day push upside to 5000/5075 levels

Comment:

14:42 Hrs / 28th Jan2021

Last Price @ 4830

Downtrend will continue only below 4777 which was false breakdown - else upside bounce is expected for 5000+ levels

Trade active:

15:13 Hrs / 28th Jan2021

Bouncing from close to 4800 levels as suggested above

Trade active:

16:02 Hrs / 29th Jan2021

Last @ 4602

Channel broke & went below 4777 - As suggested on 28th Jan2021 -------Downtrend will continue once it starts falling below 4777

Target 1 @ 4700 is done

Heading downside for Target 2 which is 4350

Happy Weekend !!!

Trade active:

11:08 Hrs / 2nd Feb2021

Last Price @ 4428

Falling below 4400 - Expect downside to 4300-4325 which will finish both the targets of 4700 & 4350 suggested earlier

Going Below 4300 - fall can extend to 4100 & 3950

Thanks

Trade active:

12:06 Hrs / 2nd Feb2021

Last @ 4406

Avoid sell if it holds or crosses above 4400 as later crossing above 4470 - upside Reddy will get ready for 4650-4700 target zone

Sell only below 4400 as suggested earlier.
Thanks