Dr Reddy's might take a Support near the trend line . Present Volumes is nearing 20 MA breakout.
Bearish Trend only when there is Comfortable Closing below 4200 levels.
Till then go Long and Accumulate on all Dips.
Disclaimer: This chart is for educational purpose. Please consult of your financial advisor before investing.
#DRREDDY Look at the monthly for the "good" cup and handle pattern with a bullish reverse momentum divergence. Now look the weekly for the bad/ugly where it is forming a double top and approach neckline. To go for long or short depend on your time horizon for the trade.
NIFTY 50 EOD ANALYSIS -27-07-21
Open / High / Low / Close
15860.5 / 15881.35 / 15701 / 15746.45
Trading Range Low to High: 180 points
Likely Max Realistic Opportunity @ 50%: 90 points
India VIX: 13.23 / +6.27%
FII DII activities: -731 Crores
CHART BASED CONCLUSIONS
Nifty ended the day as if today was 19-7-21, just around the same level....
DRREDDY has broken through the short-term resistance, after taking support at the long-term support line, which coincided with the 50-EMA. Target of 5700, with a closure below the stop-loss line as the stop-loss, could be on the cards.
Dr Reddys lab is in the triangle pattern and going to take its breakout, so give an entry with appropriate Stop loss only after the breakout
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give...
DRREDDY : Momentum
Crossing above 5415.5, we may see 5,445.7, 5,486.5
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I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
The Price has been facing resisitance from 200 EMA . The structure is already provided for reference along with S&R LEVELS. Expecting 5240
The Indicator Used:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame Charts. Not Activated.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper...