bhagat109

DrREDDY breakout from ascending triangle.

Long
NSE:DRREDDY   DR REDDYS LABS
From the recent lows of March 2020.. DrREDDY is clearly on a bull run. As the uptrend has taken a halt & we can see that bulls are facing resistance @ 4188. At the same time it is making higher lows. Over all it's making an ascending triangle pattern. So, if it breaks & sustains above 4190 with higher volumes, then it's a BUY for sure. Target being the pole of the flag ....which is coming @ 5500 atleast a 30 % upside. NSE:DRREDDY
Trade active: Still holding. In fact this is the right time to re-enter the trade as this can be considered a pullback. SL is 4080
Trade closed: target reached: The stock has beautifully reached our target. Though I was wrong on time to reach the target, but it did eventually. & see how the stock has shown a reversal once the target is hit.
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