DR REDDY LABS (SWING)Looks good for long for a positional trade , price trading in a traingular pattern, when we observe we got a dragonfly doge at support level in weekly time frame
R1DY34 trade ideas
[ INTRADAY ] DRREDDY LONG BET
risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Dr. Reddy's Lab - Power of bulls.After a huge erosion of market capitalization of about 20% from all time high in NSE:DRREDDY along with a significant correction in NSE:CNXPHARMA , it looks like NSE:DRREDDY is getting itself ready for a bounce back to hit the previous resistances.
NSE:DRREDDY is travelling in a parallel channel and right now, it is taking support over T2 while beating the bears and forming dragonfly doji candlestick in 1 week timeframe.
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DR REDDY for swingDr Reddy is following a channel and it is at the bottom of the channel. It is showing a good pinbar type candle on weekly time frame. And it can have support of PHARMA sector as it is also at the support. So it can give a good target for a swing trade.
Comment your thoughts below.
DRREDDY NEAR TO DEMAND LEVELHere are the main Elliott wave rules for ABC expanded Flat corrections:
The expanded flat correction pattern subdivides into 3-3-5 internal wave pattern.
Waves C tends towards 162% the length of wave A.
The flat correction wave can appear in any corrective position.
An flat correction wave will usually target the 50% retracement level of the previous move.
Dr. Reddy Laboratories Ltd above 4584.9Buy Dr. Reddy Lab after crossing 4584.9 wait for a while, after crossing Target-1 4599 Target-2 4659
StopLoss after crossing 4585 a little below 4585 say 4580 or 4575
Sold 4200PE of August series of DRReddySold 4200 PE of Aug Series of Dr Reddy @17.6
So Lower BEP = 4182.4
Margin Blocked = 68000
A technical analysis on Dr Reddy's LabAs you can see I am trying to guess the future of the stock, its just my theory on seeing the previous charts, as you can see it has taken good support from the green zone(support zone) in cpr, so an entry at that point would be perfect and go long on the stock for 3 month for return of more than 2000 per share, patience is the key. It will form a head and shoulder in 2 months or less and go for a breakout which will give amazing results. Stock market nowadays is sometimes bearish and our analysis could also go wrong so have a stop loss, Have a good day.
Support and ResistanceAs we can see there is a very good support zone.May be it can take support from here or it can break the support zone.
It is for only education purpose.Do self technical analysis before investing.
DR.REDDY (SELL) levels ...22/08/2021 (W candle)Dr.REDDY forming bearish pattern...so wait for 4100-4200 buying range...once its break 4100...free fall we can expect
Drreddy at Important level to go Long1.Trading Near 400 Ema on Daily TF
2.at important Support level
3. Trading at 68 % fib retracement level
Can expect an Upmove soon !!!
sun pharma will go down moresun pharma broke weekly trendline and took resistance at the trendline, it should go down more
DR reddy d tfDRreddy positive reverse divergence (PRD) on daily time frame fibo 61% support stoploss @ 4632 trailing target 5250-5300 holding 2-3 months
DRREDDY appears to be bullish in few daysDRREDDY is entering nearby support and yet to be bullish. Keep an eye on DRREDDY.
RSI Divergence in Dr Reddy LabsRSI Divergence in Dr Reddy Labs
Good Buy at this Price
Short Term Target 4850, 5000, 5144
Dr. Reddy laboratory 1d time framedr.reddy all levels are mention on chart
All trading strategies are used at your own risk
MEDICINE MAN WAVING RED(BEARISH) FLAGEverything on the chart. This is my take-Not a trading recommendation.. DO YOUR STUDY BEFORE JUMPING INTO TRADE.
Go long Showing some strength
Cross above 20 and 50 sma hourly chart
Some weak on higher time frame but
For swing trading hourly time frame going to breakout after oversold make a good to reward
This analysis invalid if it's break day low
