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
Broke above resistance area and looks like tested the level & the 50 SMA. Look for long opportunity. Trade with strict SL as this stock frequently shows long wicks.
1) DRREDDY IS LOOKING WEEK FOR BEARISH ENGULFING AND INDICATOR IS ALSO SHOWING THE BULLS ARE LOOSING GROUND TO THE BEARS.
2) 2726 IS THE CRUCIAL SUPPORT LABEL IF BROKEN THEN IT MAY FALL 2634
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...
On assuming the chart of Dr Reddy, it shows the Head & Shoulder Breakdown, one may go short with a SL of 2575 for a target of 2060 as per my projection.
Dr 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
