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Rehan_sharif

DR REDDY Long Swing Trade

Long
DR REDDYS LABS (NSE:DRREDDY)  
Rehan_sharif Updated   
NSE:DRREDDY   DR REDDYS LABS
Trend Analysis Double Top or Bottom Moving Averages DRREDDY drreddyanalysis drreddytrend drreddytrades drreddylaboratories drreddyinvestment
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trendanalysis doubletoporbottom movingaverage drreddy drreddyanalysis drreddytrend drreddytrades drreddylaboratories drreddyinvestment
DRREDDY is forming a double bottom on 1D timeframe, there could be a bullish rally after the breakout of neckline of the Double Bottom. There is also a confluence of 200 EMA on daily timeframe. You can go long after a good breakout of 4440/4435. Place Stop-loss according to you risks, suggested targets : 1st Target: 4680 2nd Target : 4890 .
At 4Hour timeframe we can see a formation of Double Top. The stock has given a breakout of the Double Top which is a good sign for bullishness.
Comment:
The entry is still not activated as the stock has not given a breakout of the resistance level and the EMA 200 as well.
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