After the breakout, Dr Reddy is now coming back to test the .
If we observe the bulls ahas made an attempt on 19/11/2020 for breakout but was unsuccessful. Today bulls were successful in taking the prices higher.
We can initiate buy between 4810-4830 and targets would be 4999/5080/5200.
SL would be very small i.e. below the low of breakout candle i.e. 4770.
Risk/Reward will be pretty good around 2.7 if trade works out.
The present one hour candle will decide.
Now trading 1% above the entry price.
Lets wait for the target with SL at 4770
Chances are pretty high to hot the first target tomorrow if the market is flat to positive.
One can book your profit or wait with trailing SL for target 2 of 5080.
trailing SL may be kept around 4920