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Balakrishna_Shenoy

Dr Reddy Breakout from a base with massive qty

Long
DR REDDYS LABS (NSE:DRREDDY)  
Balakrishna_Shenoy Updated   
NSE:DRREDDY   DR REDDYS LABS
Trend Analysis Rectangle DRREDDY
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trendanalysis rectangle drreddy
Dr Reddy has broken out of a flat base. Some supply overhang is noted and also below 50 and shorter moving averages but above 200 MA. Today was earnings. No FOMO. Will wait for a couple of days for price to settle down.
Comment:
It has sustained above the breakout area. Will stop the tracking here. Some other pharma stocks have broken out too ... So limiting exposure to Pharma stocks.
Trade closed: target reached:
Closing the idea as mentioned on Jul 31
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