DRREDDY trade ideas
DRREDDY Decent long term investment for higher levelsDRREDDY looks good enough buy for few months for 7500 levels as price looks to go up after creating a h&s bottom .
Cheers
Falling Wedge pattern breakout in DRREDDYDR REDDY LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Falling Wedge Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 6480+.
✅Can Go Long in this Stock by placing a stop loss below 5725-.
DRREDDYDr Reddy Hold 1 to 3 Month
Small Traders Entry 5880 Above Day candle Close
SL 5517 Day candle Bellow Close Only
First Target A to C Range, 2nd Target 1:5
(SL Day candle close only, Target Trigger Price)
All detail for chat. good entry at mark price only. and must stoploss minimum risk and good profit. risk ratio 1:1 in first target. This is not call, Just my idea. Please understand your risk and take full responsibility of your actions
DRReddy - extremely bullishIn charts its clearly showing multiple cup and handle patterns and price making new high levels and looks extremely bullish
Bullish Breakout: Dr. Reddy's Laboratories Flag PatternDetails:
Asset: Dr. Reddy's Laboratories Ltd (DRREDDY)
Breakout Level: Above 6200
Potential Target: 6500 and beyond
Stop Loss: Below breakout level or as per risk tolerance
Timeframe: Short to medium-term
Rationale: Dr. Reddy's Laboratories Ltd (DRREDDY) is showing signs of a potential breakout above the 6200 level, which is accompanied by a flag pattern formation. A breakout above this level could indicate a bullish sentiment shift and pave the way for further upside momentum, with a target potential of 6500 or higher.
Market Analysis:
Technical Breakout: Breaking out of the flag pattern above 6200 suggests a technical breakout, potentially attracting buying interest and driving the price higher.
Market Sentiment: Positive market sentiment or company-specific factors may be contributing to the anticipated breakout in DRREDDY.
Price Target:
The target for DRREDDY is set at 6500 and beyond, based on the breakout from the flag pattern.
Risk Management:
Implementing a stop loss strategy below the breakout level is essential to manage risk in case of unexpected price reversals.
Timeframe:
The projected upside move for DRREDDY is based on a short to medium-term outlook, but actual timing may vary based on market dynamics.
Risk-Reward Ratio: Consider individual risk tolerance and adjust position size accordingly to maintain a favorable risk-reward ratio.
As with any investment opportunity, conduct thorough analysis and consider factors such as market trends, company fundamentals, and risk management strategies before making trading decisions.
Bullish Flag pattern breakout in DRREDDYDr REDDY LABORATORIES LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Bullish Flag Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 7100+.
✅Can Go Long in this Stock by placing a stop loss below 5880-.
Dr Reddy Cmp 6050 Reversal from SupportDr 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.
Dr Reddy analysis for long term 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 only for education purpose. Please do your analysis before taking any trades.
DRREDDY - LongGrandfather, 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 the SL of BeltHold Candlestick on Daily 28 March -- 6078
(Profit Level 1) 6342
(Profit Level 2) 6450
The rally will continueDr 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 looking good for longDR 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.
Dr Reddy 1Day time frame stratergyDr reddy looks all good and checks all the symtoms to have a long trade upon; can be brought at RETEST at 6,000 ; target 6,500 ; stoploss 5,900
DRREDDY | Swing 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 (Low PE)
Sector PE : 52.24
Beta : 0.54
📚 INSIGHTS
Strong Performer
Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation
1.79% away from 52 week high
Outperformer - Dr Reddys Laboratories up by 1.9% v/s NIFTY 50 up by 0.87% in last 1 month
📈 FINANCIALS
Piotroski Score of 8/9 indicates Strong Financials
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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DRREDDY: PRE BREAKOUT IDEAThe 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 risks, and past performance is not indicative of future results.
Dr Reddy-A large cap investment multibagger!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 ratios are above 20%.
This stock has to be part of your portfolio if you prefer investing in large cap stocks.
I had seen such pattern in Tata motors when the stock was trading around 440 few months back and now stock has almost doubled from that price.
We can expect similar move in this stock but at a slower rate.
Dr Reddy is Ready for Big rally 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 my view. I may be wrong too 🙏
excellent price action looking very strong keep on radar-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
DrreddyBroken after bullish pattern consolidation. monthly target is still pending price may move to 7050.
DRREDDY TARGET 6556 STOP LOSS 5977Script 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 - Weekly AnalysisIn the Weekly Chart of DRREDDY ,
we can see that; it is leading towards Trendline breakout.
Expected momentum is shown in chart.
Dr Reddy's assending triangle pattern breakout Dr Reddy's ascending triangle pattern breakout just wait for retrace or just risk to reward
