DRREDDY: Analysis
Updated
DRREDDY is forming a triangular pattern in daily time frame keep aa eye on this stock as this stock can give breakout in the near future. BB is showing a shrinking in volume which denotes consolidation that will lead to breakout soon.
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Apart from that in the hourly time frame, it is about to hit its support levels that, if it takes support on these levels it will be a good level to buy this stock for a long-term view.
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Wait for a trend line break in the hourly time frame and let it consolidate once a buying momentum happens then enter.
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Calculate your RR Ratio and then trade. SL must be accourding to your RR ratio.
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Apart from that in the hourly time frame, it is about to hit its support levels that, if it takes support on these levels it will be a good level to buy this stock for a long-term view.
.
Wait for a trend line break in the hourly time frame and let it consolidate once a buying momentum happens then enter.
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Calculate your RR Ratio and then trade. SL must be accourding to your RR ratio.
Trade closed: stop reached
Stop-Loss hit accepted this loss.Trade active
Planning on entering into these levels expecting a reversal. Calculate your RR ratio and then trade.Trade active
Good Profit in progress
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