NSE:DRREDDY is at the bottom edge of the descending traingle. Levels and zones are marked. Trade accordingly. Cheers !
The stock price movement looks interesting for a potential long trade. Channel is catching the price movement beautifully and now showing divergence also. The last bar made a 3L-R. One can buy the stock for a target of 3100 stop loss 2920.
React on Breakout Keep on Radar. if 2980 holds on closing basis then also long can be taken
Drreddy is giving short breakout below 3219.60 for the tgt 3178 if do not break 3254 on upside.
DR Reddys Labs after hitting a high and sudden nose down, its is continuously trading in channel and stock hit the channel resistance and now is approaching to its channel support around 3100.00, risky trader may enter short in this stock at CMP, conservative trader may wait as it may retest the resistance 3400.00 again and short there if breakout doesn't occurs.
There was a gap down observed on daily chart which is been not filled up for a long time. Now the price action breaks out from a rectangular consolidation and shall reach out to 3280 levels in order to fill up that GAP. Target: 3280 Stoploss: 3070