DRREDDY trade ideas
Dr Reddy's |EMA| Channel Breakout |The price closed above EMA 200 and given a parallel channel breakout in daily time frame.
Thanks
-AJ
DR REDDY - Sideways to bearishStock is in ongoing impulse on a major timeframe.
In the short term, it is in an ongoing correction.
In the very short term, the Stock is in the B wave, a breakdown of the recent swing low with good volumes can ensure start of the C wave.
A negative divergence of RSI can be observed in the recent upmove.
Due to Ongoing Flat correction(3-3-5), the rule of equality will hold for A=C. The length of C downward will be at least the length of A.
DRREDDY - Weekly AnalysisIn the Weekly Chart of DRREDDY ,
we can see that; after failure, it is coming up strongly.
Let it retest as shown in chart then enter with SL and Go Long.
DRREDDYLong in DRREDDY as per chart levels are marked in charts stop loss below VWAP cross candle low
Buy Dr REDDY LABBuy Dr Reddy lab 4989, till 4800 for 5300 to 5500. Invalid below 4690. Simple continuation pattern heading towards all time highs
DRREDDY LAB TARGET 4957DRREDDY LAB monthly symmetrical triangle breakout with weekly bullish, If it sustains above 4610 in day chart it will reach the weekly target 4957
DRREDDY - Intraday Trade || 31st May, 2023 #stocks Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 31st May, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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* Please do your own research and/or contact your financial advisor before taking any trading opportunities
** We will not be responsible for your profit or loss
*** We are NOT SEBI REGISTERED
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Dr Reddy's Weekly chart at channel supportDr Reddy's Weekly chart @ channel support.. can be considered long RR 1:2
DRREDDY - Buy on BreakoutBuy on Flag Breakout on 15m
Entry - on Flag Breakout
SL - 4440
Tgt - 4544
Disclaimer - I am not sebi register analysis
DRREDDYAfter analyzing DRREDDY's stock, there are indications that a potential breakout may occur shortly. Several factors suggest that the stock's price could experience a significant movement.
However, it's important to note that stock market investments come with inherent risks, and accurately predicting breakouts or price movements is challenging. It's advisable to consult with a financial advisor or conduct further research to validate the analysis and make informed investment decisions.
Dr reddy 1dtf good opportunity if it take supportDr reddy it is testing major trend line wait for any reversal confirmation if reverses then very minimal stoploss
If it breaks down may be a shorting opportunity
DR REDDY FALLING DOWNAs per my analysis DRREDDY will ready for a fall. Already started breaking the trendline and there is a huge resistance as well
DRREDDY POSSIBLE MOVE ANALYSIS
NSE:DRREDDY @ 4437.95 - LONG & SHORT TGTs and SL are in the Chart. FOR BOTH BREAKOUT or BREAK DOWN, STRONG CLOSING CANDLE IS MUST.
Am bullish here. This idea is for Educational purpose.
DRREADY - Buy near 4400Trendline support near 4400
Buy near 4400
Disclaimer: I am not SEBI register analysist
DRREDDY it looks like drreddy has completed ew5 and ready for some correction , keep an eye . view negated above 5000
Uptrend Channel pattern reversal in DRREDDYSLAB.DRREDDYS LAB
Key highlights: 💡
✅On 1Week Time Frame Stock Showing Reversal of Uptrend Channel Pattern .
✅ It can give movement upto the Reversal final target of below 4400-.
✅There have chances of breakdown of Support level too.
✅ After breakdown of Support level this stock can gives strong downside rally upto below 3806-.
Drreddy Traingular breakoutDrreddy ois ready for big breakout. If it crosses 4941 and sustains for 30min then 5000/5200 are my immediate targets. It is more likely to touch 5000 tomorrow.
Pharma sector is extremely bullish and we can see good rally across multiple pharma stocks tomorrow, Divislab, Metropolis etc.
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = DR Reddy
Time Frame = 1 Day
Drreddy Traingular breakoutDrreddy expected to give good breakout and touch 4500, 4600 in coming days.
Neat & Clean Breakout in Dr. reddy's lab Target 20-25% from hereDr. 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.
Market Cap
₹ 80,814 Cr.
Current Price
₹ 4,853
High / Low
₹ 4,920 / 3,788
Stock P/E
22.2
Book Value
₹ 1,248
Dividend Yield
0.62 %
ROCE
14.1 %
ROE
11.5 %
Face Value
₹ 5.00
Debt
₹ 1,729 Cr.
EPS
₹ 219
PEG Ratio
2.01
Promoter holding
26.7 %
Intrinsic Value
₹ 2,359
Pledged percentage
0.00 %
EVEBITDA
12.8
PROS
Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 21.6%
CONS
Stock is trading at 3.89 times its book value
The company has delivered a poor sales growth of 8.70% over past five years.
Company has a low return on equity of 12.2% over last 3 years.
Well i have done my analysis, Seen neat and clean Breakout (Price and action), MACD bullish crossover, 200EMA all giving buy signal in Dr. Reddy' Lab. i am expecting 20-25% returns safe next 3 to 6 months. If anyone wants to go long can go from given levels on chart.
Please follow strict stop loss.
If anyone really like my work please like and follow me, and also comment me your thoughts also.
Thankyou.:-))
VIEW ON DR REDDYGood chart structure
The stock is in a continuous up move
Once it crosses 4990 can regain May 2021 levels.
I AM JUST REPRSENTING MY VIEWS
FOR EDUCATIONAL PURPOSE ONLY.
Dr. Reddy Sell at CMPDr. Reddy moved well after taking the support at the lower channel line, and made doji at the top of the move, expecting correction of atleaset 100-150 points in coming days or before end of April series. 4810 can be the Stop loss on Closing basis, will down side it can slide up to 4650-4600.
