DR Reddy Call Spread Options ShortNSE:DRREDDY shows negative divergence in Daily charts at the Monthly Resistance zones. Today, TL has been broken.
Used 75 min to enter short on this one, once the TL was broken along with break of support levels. EMA crossover had already occurred earlier. An options call spread is suitable in such circumstances to eat premium.
1. Bought 2850 CE at 23.4
2. Sold 2750 CE at 54.2
Breakeven: 2780
DRREDDY
DR. Reddy Trend & Trade Setup !!TREND ANALYSIS
TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
Risk Reward is more then 5-8
"Dr Reddy " Bullish View Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.
Haribol !
The stock had entered into the zone from which it had rebounded in the past.
If you search the news on 15th Feb 2019...the entire world was pessimistic about the Dr Reddys's.
The FDA was raising issue on the one of the most important manufacturing plants of the company.
The stock fell 30% and Recovered 26% ....All on the same day ?... who would be buying ..The entire world was wondering.
The Price came near the same zone twice and bounced back almost immediately.
Now it has broken a strong downward shaping trend line confirming what was obvious.
I am forecasting that the price should reach near 2875 in the next few weeks.
With the innovative business model and low cost drug market expanding worlwide..Dr Reddys is set for the moon.
Good Luck
Happy Investing
Dr Reddy Lab - Down Trend on Long Term - Price move 2492 -->1820Dr Reddy Lab Limited is in downtrend in both long and short term; Good Choice to short it. I marked the Price movement in the chart.
Target 1: 2214
Target 1 Date: 24th Sep, 2019
Target 2 : 2465
Target 2 Date : 26th Nov, 2019
Target 3 : 1820
Target 3 Date : 13th Apr, 2020