yogi_sharma_elliottician

#drreddy Dip is a buy opportunity

Long
NSE:DRREDDY   DR REDDYS LABS
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.

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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

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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

Comments

wow sir, thanks 👌🏻
+3 Reply
KuberPriya KuberPriya
looks good I'll buy ;)
+1 Reply
@KuberPriya sure priya, cheers! :)
+4 Reply
DalalStreetTrader yogi_sharma_elliottician
@yogi_sharma_elliottician, Sir what can be the dip according to you?
+1 Reply
yogi_sharma_elliottician DalalStreetTrader
@DalalStreetTrader, The R:R from SL to T1 should be favourable, you can use fibonacci or horizontal support to find the dip. Else there are other ways to trade which I have mentioned above
+3 Reply
DalalStreetTrader yogi_sharma_elliottician
Reply
DalalStreetTrader DalalStreetTrader
@DalalStreetTrader, Very kind of you
Reply
yogi_sharma_elliottician DalalStreetTrader
@DalalStreetTrader, my pleasure
Reply
good heavy work nicely 👌🏿👌🏿👍
+1 Reply
@Future_Trading, thank you sir
Reply
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