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...
EXPLANATION : This is a 15 min time frame chart of DRREDDY . It has formed Symmetrical Triangle Pattern , both side levels marked in chart .
If you like this analysis of Stock give a Like // Follow for more updates , let me know in comments below :)
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...
Hanging Man - Top Reversal Candlestick Pattern
Confirmation is must ( Wait for close below 5200) in next week ( No Selling- If stock fails to close below 5200)
------------------------------------------------
Trading Strategy - Sell only below 5200
------------------------------------------------
Targets Downside
4700
4350...
![DRREDDY: Simple Trade Setup | DRREDDY | 26-10-2021 [ INTRADAY]](https://s3.tradingview.com/e/E3N2nRlW_mid.png "Simple Trade Setup | DRREDDY | 26-10-2021 [ INTRADAY]")
