#drreddy Dip is a buy opportunity
Scrip Name - Dr reddy Labs
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Techincal Analysis:
1. Formed double bottom at the important support.
2. Decisive breakout from the trend line resistance.
3. My small understanding towards market structure and price action.
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How to trade:
1. Buy at dips if risk reward is favorable with Stop loss 4390.
------------or----------
2. If dips and sustains above recent high above 4590 then go long with SL recent low.
----------or--------------
3. If dips and forms a bullish structure in lower TF i.e. in 15 min, then buy with the SL of the low of the structure.
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Targets
TP1 - 4700
TP2 - 4850
TP3 (POSITIONAL) - 5440
===============================
If you do like my ideas then give a like, comment and follow me to keep me motivated.
Cheers and happy trading!
Regards,
Sharma Yogesh
~~~~~~~~~~~~~~
~~~~~~~~~~~~~~
Techincal Analysis:
1. Formed double bottom at the important support.
2. Decisive breakout from the trend line resistance.
3. My small understanding towards market structure and price action.
----------------------------------
How to trade:
1. Buy at dips if risk reward is favorable with Stop loss 4390.
------------or----------
2. If dips and sustains above recent high above 4590 then go long with SL recent low.
----------or--------------
3. If dips and forms a bullish structure in lower TF i.e. in 15 min, then buy with the SL of the low of the structure.
------------------------------------
Targets
TP1 - 4700
TP2 - 4850
TP3 (POSITIONAL) - 5440
===============================
If you do like my ideas then give a like, comment and follow me to keep me motivated.
Cheers and happy trading!
Regards,
Sharma Yogesh
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