Dr Reddy Cmp 6050 dated 16-4-2024
1. Reversed from Support
2. RSI reversal
Buy above 6075 target 6125-6185-6225-6280 SL 5970
It is just a view, please trade at your own risk.
Grandfather, Father & Son Strategy
RSI above 60 for Grandfather (Monthly time-frame) & Father (Weekly time-frame)
RSI taking support on 40 for Son (Daily time-frame)
Support of Hammer on 20 March 2024 didn't break.
(Entry) Hammer Confirmation (Weekly) Above 6211
(Proper SL) SL will be low of hammer (Weekly) below 6034
(Lower SL) If the SL is too much you can use...
As per my analysis DR Reddy is trading in very good support zone. So, long term investors can consider this stock at this price level.
Traders can consider this stock if the daily candle closed above Rs 6220 price.
Target 1 - 6500
Target 2 - 7000
SL - 5880
Your feedback is more valuable. Please provide me your feedback in comment section.
Note:
This analysis is...
Dr Reddy CMP 6158
Fibs- the correction to 1829 halted at 61.8% of a major swing indicating that the trend is intact but the rally post that has to be watched carefully. In my view this stock is headed for 8700 which is a good 40% from current levels. One should definitely book profits there.
DR Reddy is reacting from a Monthly Demand zone and having Trendline resistance, if a day candle closed above 4780 we can look for long for the targets of 4900 and 5000 in short term with stop loss of 1hrs swing low once the trendline breaks.
This is just for educational purpose do your own analysis before taking any trade.
📊 DETAILS
Sector: Pharmaceuticals & Drugs
Mkt Cap: 100,744 cr
Dr. Reddy's Laboratories Ltd is a leading India-based pharamceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations.
TTM PE : 19.27...
The stock is forming nice rounding bottom structure. todays movement suggesting it is ready for breakout.
Pre Breakout trades are highly rewarding if executed properly.
Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always do your own research before making any investment decisions. Trading involves...
Dr Reddy has given a huge weekly breakout from Inverted head and shoulders pattern.
This stock is a blind buy for investment considering the pharma rally expected for next few years. Add on dips is the best way to accumulate such investment stock.
The company has one of the best fundamentals as of date. Stock is available at PE of 20 and PEG of 0.52. the return...
The Doctor is Ready ( Dr Reddy )
Based on Monthly chart with the Parabolic Upside trend ( Purely based on my New STUDY ) ,
Dr Reddy is Ready for the rally.
Tgt 1 : 8412 - 8568±
Tgt 2 : 8823±
Tgt 3 : 9825 - 9952±.
Shared it for EDUCATIONAL/ REFERENCE PURPOSE ONLY.
IT'S NOT A BUY OR SELL RECOMMENDATION.
DO YOUR ANALYSIS FROM YOUR SIDE ALSO.
Don't get biased by...
-trading near resistance and holding ready for next momentum
-rise in delivery volume and rsi shows strength
-above all crucial ema and sma
-keep in radar it can give decent return in mid term
Script is brekaout from the raising wedge in monthly , weekly with good bullish sign. And also in intrady consecutive three days bullish with good raising in volume. Definitely it will go to the short term target of 6556
#DRREDDY trading above Resistance of 5967
Next Resistance is at 6474
Support is at 5390
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational...
Dr Reddys Laboratories Ltd.
Sector: Pharmaceuticals & Drugs
On a monthly & weekly chart script shows a strong bullish trend. This is a stock that is around its 52-week highs and shows a robust trend.
in daily chart price in demand zone with RSI divergence shows accumulation in daily zone....
