Get started

DRREDDY

Shooting Star A shooting star occurs after an advance and indicates the price could start falling. The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open. Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short. If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle. Script = DR Reddy Time Frame = 1 Day
NSE:DRREDDYShort
by Jainshashwat
DRREDDY INTO BEARS WARD ???!!!!Chart pattern depicts the situation clearly REASONS 1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly . 2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support (White coloured) 3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel 4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top . 5. Target & SL levels mentioned @ chart. Safer SL - Day close above 4500 Let's wait and watch how it moves!!!! Note - Just Sharing my view....not a tip nor advice!!!
NSE:DRREDDYShort
by mmjimm
DRREDDY inside an Inverted Cup & Handle ??!!!Chart patterns look good for a short trade Reasons(all with respect to 1 hr time frame) 1. Drreddy has been travelling in an ascending channel pattern 2. Recently it broke out of the channel pattern with volume support 3. Inverted Cup & Handle pattern too looks perfect 4. Entry can be made after 1 hr breakdown out of the yellow trendline. 5. Target & Sl mentioned as dashed horizontal lines. Let's wait & watch , how it is going to move!!! NOTE - Just sharing my view....not a tip nor advice!!!!
NSE:DRREDDYShort
by mmjimm
BreakoutA breakout is when the price moves above a resistance level or moves below a support level . Breakouts can be subjective since not all traders will recognize or use the same support and resistance levels. Breakouts provide possible trading opportunities. A breakout to the upside signals traders to possible get long or cover short positions. A breakout to the downside signals traders to possibly get short or to sell long positions. Breakouts with relatively high volume show conviction and interest, and therefore the price is more likely to continue moving in the breakout direction. Breakouts on low relative volume are more prone to failure, so the price is less likely to trend in the breakout direction. Script= Dr Reddy Time Frame = 1 Day
NSE:DRREDDYLong
by Jainshashwat
Head and Shoulder -A head and shoulders pattern is a technical indicator with a chart pattern of three peaks, where the outer two are close in height, and the middle is the highest. -A head and shoulders pattern—considered one of the most reliable trend reversal patterns—is a chart formation that predicts a bullish-to-bearish trend reversal. -An inverse head and shoulders pattern predicts a bearish-to-bullish trend. -The neckline rests at the support or resistance lines, depending on the pattern direction. Script = DRREDDY Time Frame = 15 min
NSE:DRREDDY
by Jainshashwat