DRREDDY is forming a triangular pattern in daily time frame keep aa eye on this stock as this stock can give breakout in the near future. BB is showing a shrinking in volume which denotes consolidation that will lead to breakout soon.
Apart from that in the hourly time frame, it is about to hit its support levels that, if it takes support on these levels it...
Zeel is at the possible breakout stage of a monthly trendline in daily as well as 1 hourly time frame.
Reason to Buy:
1) Healthy 'W' patten break out.
2) Buyers dominance at lower levels.
3) Monthly trend line break out.
4) Increased volume levels.
Best place to enter at 225.00.
SL should be at previous support i.e near about 215.50.
PS: Stock is known for...
Sun Pharma has given trendline breakout with rising volume at 657. Also Stock has formed higher bottom around 623 and made hight top around 657. So technically its double breakout.
One can initiate long position around 665-668 with stop loss of 623 (closing basis) for target of 731 in coming 6-8 weeks.