DR REDDYS LABS making a symmetrical triangle breakout and may give a profit of 12% and above.
One can wait for Volume as well as weekly closing on chart
CMP : 4650
TG : 5200
SL : Below 20 EMA
Disclaimer : It is my personal view as a trader and for educational purpose only. Equity market involves risk . Please consult your financial adviser before taking any decision.
Note: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be formation of Inverse Head & Shoulders. If the neck line is broken, we can initiate a buy in cash. RSI above 65 indicates bullish momentum. Moreover, the stock has more relative strength as compared to Nifty 50.
SL: ₹4825
