1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly. 2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support(White coloured) 3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel
4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top.
5. Target & SL levels mentioned @ chart.
Safer SL - Day close above 4500
Let's wait and watch how it moves!!!!
Note - Just Sharing my view....not a tip nor advice!!!
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Very narrow range!!! We can expect a big volatile move!!! Also there is H&S in 1 hr timeframe!!!
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h&s breakdown with good volume support!!! 4240 can be 1st target!!!
Trade active
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Above said ,h&s target achieved!!! with expected volatility
In daily timeframe , H&S alike pattern breakdown again!!!