Monthly Sell‑Off Ends | Dr. Reddy’s Retracement PlayAfter a heavy monthly sell‑off, Dr. Reddy’s has started showing signs of retracement. The chart highlights how price is reacting near the support zone, with potential upside toward the green trade area.
Key Takeaways:
Market structure shift after sustained selling pressure on lower Timeframe
Support zone holding, triggering retracement momentum
Tactical setup for traders watching reversal opportunities
Drreddyinvestment
Bullish Breakout: Dr. Reddy's Laboratories Flag PatternDetails:
Asset: Dr. Reddy's Laboratories Ltd (DRREDDY)
Breakout Level: Above 6200
Potential Target: 6500 and beyond
Stop Loss: Below breakout level or as per risk tolerance
Timeframe: Short to medium-term
Rationale: Dr. Reddy's Laboratories Ltd (DRREDDY) is showing signs of a potential breakout above the 6200 level, which is accompanied by a flag pattern formation. A breakout above this level could indicate a bullish sentiment shift and pave the way for further upside momentum, with a target po
DRREDDYKey highlights: 💡⚡
✅On 1D Time Frame Stock Showing Breakout of Channel pattern .
✅ Strong bullish Candlestick Form on this timeframe.
✅ Buy above 4400
✅It can give movement up to the Breakout target of 4800.
✅Can Go long in this stock by placing a stop loss above 4310.
✅ breakout this can give risk:reward upto 10 %+
DRREDDY MAY NEED A DOCTOR FOR ITSELF!1. After a decline from 5600 odd levels to 3700 odd levels, stock is in short term uptrend.
2. As we can see, a Bearish Flag is in making. Currently it's consolidating and a decisive Break Down (most probably) may happen anytime soon.
3. Rejection is also evident from the RSI, suggesting a strong decline in coming weeks.
4. For short term, stock is entering supply zone of 4450-4600. If manages to cross it, may see a rise till 4800 levels to meet the TL, and face resistance.
5. At the same time
Drredday Swing-Trade activatedNot a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis .
DR REDDY Long Swing Trade DRREDDY is forming a double bottom on 1D timeframe, there could be a bullish rally after the breakout of neckline of the Double Bottom. There is also a confluence of 200 EMA on daily timeframe. You can go long after a good breakout of 4440/4435. Place Stop-loss according to you risks, suggested targets : 1st Target: 4680 2nd Target : 4890 .
At 4Hour timeframe we can see a formation of Double Top. The stock has given a breakout of the Double Top which is a good sign for bullishness.
Simple Trade Setup | DRREDDY | 26-10-2021 [ INTRADAY]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 resistance is at 4700 level
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All the levels and most of the trade setup still remains the same as per pr
Dr Reddys lab - wait for tomorrow's breakoutDr Reddys lab is in the triangle pattern and going to take its breakout, so give an entry with appropriate Stop loss only after the breakout
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue
DR REDDY LABSooks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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DR REDDY LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS ARE MARKED ON CHART;
PRICE WAS STRUGGLING TO BREAK DAILY 20 EMA, IT HAS BROKEN IT WITH GOOD VOLUME
IT MIGHT COME BACK TO THE EMA FOR CONSOLIDATION.
The indicator used:
1) Daily Lines plots Daily 20 EMA on lower time frame charts
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