DRREDDY : Supply Zone

After bouncing back from demand zone DRREDDY is trading in it's supply zone. Currently it's trading in a parallel channel and on Daily chart it's forming a flag & pole pattern.

Possibility of giving breakout from the flag & pole pattern is very less. But if it gives breakout with huge volume, one can go for a small swing for a target of 5650. But that would be a risky one.

If it gives breakout from the parallel channel, big fall can be seen till 5000.


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