DRREDDY trade ideas
DR Reddy: Double bottom at support levelDr. Reddy has created a double bottom pattern. The risk to reward ratio is highly favorable here.
Volumes are increasing slowly with the price which is a positive sign.
All levels are mentioned on the chart. For educational purposes only.
DRREDDY Levels for 15-MAR-21(Intraday) Buy above 4450 for 15,40,70+++
Sell below 4380 for 15,40,70+++
Can comment or ping me for any query or live updates
All views for Educational purpose, Trade at your own risk
Dr Reddy - Ready for UpmoveStrongest Support Area 4375-4435
Hold of this level Possible
Minor resistance upside
DrReddys ViewDrReddy : Intraday/Swing View
Descending Triangle and resistance Breakout Possibility
Long above 4526 with a SL 4505
Long Drreddy as Positive Break-out is seen with Strong VolumesGood to enter long in DRREDDY as Break-out is seen in the stock above trendline along with good volumes.
One can go long at current levels of around 4560 for a target of 150 pts from here or around 4710 levels with sl around 4420 levels.
DRreddy Good for buy...Positional ... buy as low as possible.. SL 4382 1st tgt 4761 2nd 5000..
Disclaimer- educational purpose only... Please do your analysis first ..!
DRREDDY Levels for 08-MAR-21(Intraday) Buy above 4540 for 15,40,70+++
Sell below 4475 for 15,40,70+++
Can comment or ping me for any query or live updates
All views for Educational purpose, Trade at your own risk
Dr reddies , looking good till it hold 4290, taking support Dr reddies , looking good till it hold 4290, taking support 50 weekly sma , previous weekly support , after nice fall , good risk:reward ratio
#drreddy Dip is a buy opportunityScrip Name - Dr reddy Labs
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Techincal Analysis:
1. Formed double bottom at the important support.
2. Decisive breakout from the trend line resistance.
3. My small understanding towards market structure and price action.
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How to trade:
1. Buy at dips if risk reward is favorable with Stop loss 4390.
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2. If dips and sustains above recent high above 4590 then go long with SL recent low.
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3. If dips and forms a bullish structure in lower TF i.e. in 15 min, then buy with the SL of the low of the structure.
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Targets
TP1 - 4700
TP2 - 4850
TP3 (POSITIONAL) - 5440
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Cheers and happy trading!
Regards,
Sharma Yogesh
Reason to Buy Dr. Reddy’s 1. Positive divergence in rsi
2. Double bottom in hourly chart.
3 . Candle Breakout
4. Huge volume candles @ double bottom
Enter @ current mkt price with SL of 4320
Tgt 150 point
Watchout for Resistance breakoutThe stock gave a trendline BO today and looks good for upmove above 4593.55 level.
dr reddy looks to be range bounddr reddy has broken from descending triangle. looks like its going to be rangebound.
one could go long with the target 4660,4900 with the stop 4390
Double bottom Pattern both in hour chart and daily in DRREDDY.Wait for the breakout 4651 level but aggressive trader can go long for the current price.
