Dr Reddy Looking Good Near 4430. One Can buy With SL 4200 RR 1:2
Price is consolidated in a range. For trade entry level mentioned on chart.
Levels are mentioned on the charts. Stock may show a comeback this time. The risk-reward ratio should be maintained wisely. Only for learning and sharing purposes. Not a bit of trading advice. Please comment with your views.
Dr. Reddy could break out of this TL and then be ready for an up move. Swing traders can keep it on their watchlist for a good RR trade.
Take positions in DR REDDY once the trend line breaks on either sides. I think we'll see a breakout soon as the results were quite good.
Dr. Reddy showing 2 chart patterns on weekly charts : 1. Symmetrical triangle 2. W-pattern (can you see it) or double bottom pattern Wait for neckling break above 4960 on closing basis. TGT - 5400 on positional basis #risinglows #goodvolumes
Dr reddy has been taking support on trendline and is again on trendline showing some reversal. Conservative traders can go long after stock crossing 4900. Aggressive and long-term holders can enter now with SL below the trendline. If it goes as per plan swing target could be 20%
short term sell below : 4630 target @ 4050 stoploss above 4780 last 14 months this stock is trading in between a strong supply and demand zone. excepting a previous level of support 4050 to 4000 in a couple of weeks. current global cues are in negative mode.
NSE:DRREDDY as one can see Dr. Reddy's share heading towards harmonic PRZ., so here if you find reversal at PRZ then only go for swing trade. ******whatever charts or levels sharing here are just for educational purpose only, not a recommendation. Please do your own analysis before...
NSE:DRREDDY Observations: 1) On 1 Day time frame, After Friday's doji candle/spinning top candle, today it made hammer pattern. Also it has been taking support and closing above 400DMA which is very very major support for any stock. Only negative thing is that volume was lower than Friday. Please refer below chart : 1day Time Frame. Immediate...
4965 is long target but let candle close above trendline first trade at your own risk
Dreddy has given a breakout from the a trend line and looks like it is setting up for a good momentum Hold till month end October Entry- CMP SL 4849 Target - 5430 R:R - 1:5
After the downfall of more than 15% in DR . Reddy , it started to recover. Now it gave a Fresh Breakout from the Trendline. Also Pharma sector too looks good for going long.
DR REDDY entered the ichimoku cloud today which is a positive sentiment. should move up along with other pharma stocks. targets are mentioned on the chart. risk to reward ratio is very favorable here.
Note: This is for educational purpose only. Please do not trade in F&O based on this analysis. There seems to be formation of Inverse Head & Shoulders. If the neck line is broken, we can initiate a buy in cash. RSI above 65 indicates bullish momentum. Moreover, the stock has more relative strength as compared to Nifty 50. SL: ₹4825
DR REDDY is on its great breakout. May be it's greate opportunity we can see in few more days. Its for the holders to get that fast movement.
Dr Reddy's might take a Support near the trend line . Present Volumes is nearing 20 MA breakout. Bearish Trend only when there is Comfortable Closing below 4200 levels. Till then go Long and Accumulate on all Dips. Disclaimer: This chart is for educational purpose. Please consult of your financial advisor before investing.
Note: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket...