Stock is all set to break its resistance level. It was consolidating in a uptrend rectangular pattern for more than one year, It has given a decent green closing for the week. It seems more likely to give a breakout. We have to wait till it breaks its resistance. On the other side NIFTY has reached at its all time high (ATH) level. So, it might fell down going forward. If Nifty closes with a good green candle on Monday, we are good to go in this.
Trade active:
As we discussed previously, Drready has successfully achieved a fair breakout 🚀
🚀. And since then, it has already gained 3% from the entry point.
Where our Initial target would be at 5550, while we maintain a Stop-loss at 4950 to manage our potential risks.
🚀. And since then, it has already gained 3% from the entry point.
Where our Initial target would be at 5550, while we maintain a Stop-loss at 4950 to manage our potential risks.
Trade closed: target reached:
Cheers for Success on the trade in Dr. Reddy's Labs! Even though it initially dipped after triggering our entry, our smart use of stop loss helped us stay in the trade.
Today, it has successfully reached our target, resulting in a solid 10% profit. It might have taken a bit longer, but patience has definitely rewarded us with handsome profits.
Today, it has successfully reached our target, resulting in a solid 10% profit. It might have taken a bit longer, but patience has definitely rewarded us with handsome profits.