ALL THE LEVELS ARE MARKED ON CHART;
PRICE WAS STRUGGLING TO BREAK DAILY 20 EMA, IT HAS BROKEN IT WITH GOOD VOLUME
IT MIGHT COME BACK TO THE EMA FOR CONSOLIDATION.
The indicator used:
1) Daily Lines plots Daily 20 EMA on lower time frame charts
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The analysis is my POV, hope you...
DRREDDY's triangle setup shown earlier triggered its stop levels and now has shaped up to be a rectangle that has broken on the downside. Expect a downmove towards 4770 which is the normal target out of a rectangle. support and caution can be expected at 4845 which is the gap support
After a Strong rally DRREDDY is sustaining on higher levels and taken support from Trend Line and Moving Average.
RSI sustaining above 60 level and has also taken support from 60 level.
ADX is rising and crossed its previous swing high and sustaining above it.
Last three Green Candles' volume is greater than Red Candles' volume