DRREDDY is forming a pole and flag pattern on a daily basis with the price at upper end of the flag .The support as of now lies at 3610 .A close above the breakout range will give at least 15-20% return.Will update if i enter this trade.
CONDITIONAL INTRADAY TRADE IN DR REDDY MAY FUT
SHORT@3865
STOP@3921
TARGET@3781
QTY=500
!!please note trade with caution!!
!!manage your risk!!
!!trade-wise!!
!!please adjust for future rates!!
!!intra-day ideas series everday at between 9:30 to 10:30!!
Dr Reddy
We observe a bearish harami cross candlestick pattern.
Levels mentioned in chart
Alternatively one may consider selling Dr Reddy 4100 Call option
Expiry: 30 April 2020
Lot size 250
Price range around 80 (Closing Price is 86.20)
Target: 20 / 0
Take care & safe trading
------------------------------Price Action vs. Volume!------------------------------------
Let's talk on the left to the right side:
6th and 5th candles : wide body with normal tail and 3x volume which means buyers .
4rd Candle, Volume less compared to 5th and 6th candle and price falling: Clearly showed that something is cooking a nd till price can move...
This stock is forming flag and pole and moving up. It is near its control line of the parallel channel. If manages to hold 3126 low, it can move 100 points from CMP or else will move down the lower value of parallel channel. Trade as per the market moves next week. Remember key level is 3126 for long and below that short.
