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DRREDDY

Breakout from falling Wedge Pattern in Dr ReddyThere is a breakout from falling wedge pattern in Dr Reddy on hourly chart today. Volumes of 3X (Compared to 10 day EMA) were seen on the breakout candle. After the breakout, Dr Reddy is now coming back to test the trend line. If we observe the daily chart bulls ahas made an attempt on 19/11/2020 for breakout but was unsuccessful. Today bulls were successful in taking the prices higher. We can initiate buy between 4810-4830 and targets would be 4999/5080/5200. SL would be very small i.e. below the low of breakout candle i.e. 4770. Risk/Reward will be pretty good around 2.7 if trade works out.
NSE:DRREDDYLong
by Swingtrader20192015
1
DR REDDY LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE . STOCK HAS EARLIER TAKEN SUPPORT FROM 50 DAILY EMA BUT IT WAS NOT ABLE TO MAKE HIGHER HIGH The indicator used: 1) Daily Lines plots Daily 20 & 50 EMA on lower time frame charts 2) TE-REKAB - PB : PULLBACK If you like the analysis, do leave a like and follow for more such content coming up. The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :) HAPPY TRADING!
NSE:DRREDDY
by ReeAishw
DR REDDY LOOK OUT FOR THESE LEVELS!!! 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 If you like the analysis, do leave a like and follow for more such content coming up. The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :) HAPPY TRADING!!
NSE:DRREDDY
by ReeAishw