Target : 2710
Sell Below : 2787
Stop loss : 2840
After panic in pharma sector today , more selling can be seen tomorrow .
DRREDDY has broken from a support and has formed an inside doji on hourly. Can sell below 2787 for targets of 2787 in coming days.
Can sell on rise as long as doesnt go over 2850 .
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In our previous update we had highlighted the Buy zone for Dr Reddy. And boy oh boy it did just that. It touched the buy zone and is up almost 3% from those levels.
This is what charts can help us with. Plan the trade....
The stock is likely to head towards 2920 / 3215 levels in medium term
The pattern gets invalidated if the stock closes below the red line on a weekly closing basis
Take care & safe trading...!!!