Key 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 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...
NSE:DRREDDY
Observations:
1) On 1 day time frame,we can see that it has been having continious down fall and now it is near to immediate last major support of 4200 level.
Range of 4200-4275 is working as support in previous days. It has now chance to bounce from it. But if it failed and gave breakdown of 4200 level range then we can see some more down fall...
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 .
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EXPLANATION : This is a 15 Min time frame chart of DRREDDY . The stock has formed a Ascending Triangle Pattern , I will look to go long if it gives a good breakout of its supply zone and continue the upward rally . I am not comfortable in shorting unless it breaks its trendline with volumes. Entry as per your entry setup .
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...
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...
![DRREDDY: Simple Trade Setup | DRREDDY | 31-01-2022 [INTRADAY]](https://s3.tradingview.com/d/d5BxXasK_mid.png "Simple Trade Setup | DRREDDY | 31-01-2022 [INTRADAY]")
![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]")
