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
EXPLANATION : This is a 15 min time frame chart of DRREDDY . It has formed Symmetrical Triangle Pattern , both side levels marked in chart .
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Dr 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...
ooks 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
Check these Upcoming ideas - STILL ACTIVE
Check these successful trades & approach on Britannia , Mothersonsumi , DLF , Biocon , Daawat , Infosys , HBL power , HDFC life , Hind ZINC given below
If you like my...
Execute Long above 5250 levels only after the trend line broke in Awesome Indicator and Price chart in 1 hour candle close to avoid false signals.
Maintain Strict Stop loss below the strong support zone as mentioned in the chart for a Target of minimum 80 points.
Kindly share your valuable feedback.
Disclaimer: Please do your own analysis or consult your Advisor...
We shared this idea in the starting of Feb and asked to short this stock near 5000 levels, It made a high of 4900 odd levels and now trading near our first target.
Here is the chart we shared.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro...
The stock has formed the double top (M) pattern and given the confirmation too, I am expecting the retest of the black line and then fall towards the highlighted targets.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
NSE:DRREDDY
go only if one can find reversal at PRZ.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
