DRREDDYThe chart presented here is intended for observational purposes only. What is your analysis and prediction for the future trend of DRREDDY?
DRREDDY trade ideas
Dr Reddy ascending triangle!!Stock has been maintaining HL structure and has formed ascending triangle. Buy side trade can be initiated with sl being the trendline or the last swing if risk appetite is more.
Dr Reddy Cmp 4316 dated 28-2-2023 Triangle BreakdownDr Reddy Cmp 4316 dated 28-2-2023
1. Long Triangle Formation
2. Breakdown below 4310
Sell below 4300 for target 4250-4200-4150-4100 SL 4385
Disclaimer :
I am not a SEBI registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, please trade at your own risk.
DRREDDY INTO BEARS WARD ???!!!!Chart pattern depicts the situation clearly
REASONS
1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly .
2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support (White coloured)
3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel
4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top .
5. Target & SL levels mentioned @ chart.
Safer SL - Day close above 4500
Let's wait and watch how it moves!!!!
Note - Just Sharing my view....not a tip nor advice!!!
DRREDDY inside an Inverted Cup & Handle ??!!!Chart patterns look good for a short trade
Reasons(all with respect to 1 hr time frame)
1. Drreddy has been travelling in an ascending channel pattern
2. Recently it broke out of the channel pattern with volume support
3. Inverted Cup & Handle pattern too looks perfect
4. Entry can be made after 1 hr breakdown out of the yellow trendline.
5. Target & Sl mentioned as dashed horizontal lines.
Let's wait & watch , how it is going to move!!!
NOTE - Just sharing my view....not a tip nor advice!!!!
DRREDDY short tradeDRREDDY showing weakness after taking out short side stoploss so looking to short around 4518. Looking forward expecting price moving down towards 4444 and 4380 with trade invalidation on close above 4565. Bear put spread is my preferred way to enter short as the overnight risk is defined.
DR REDDY Ready to blast Dr reddy ready to Fly Good Trendline Support Weekly chart Rsi is also Looking good
Drreddy longDrreddy long
Expecting upmove in near term 4900 range.
Move down from there up for 5450 - 6100 if good volume received.
No recommendations, just my view based on chart.
Drreddy Bullish Mode#Drreddy closing 4487.8 with the stop loss of 4420 then targets are 4654-4998-5150. #Buying Reason is make the triangle and when cross the trendline then make the fast move and all Ema also give the strength and Rsi is also give the support of the trend and ADX is also showing the strength.
BreakoutA breakout is when the price moves above a resistance level or moves below a support level .
Breakouts can be subjective since not all traders will recognize or use the same support and resistance levels.
Breakouts provide possible trading opportunities. A breakout to the upside signals traders to possible get long or cover short positions. A breakout to the downside signals traders to possibly get short or to sell long positions.
Breakouts with relatively high volume show conviction and interest, and therefore the price is more likely to continue moving in the breakout direction.
Breakouts on low relative volume are more prone to failure, so the price is less likely to trend in the breakout direction.
Script= Dr Reddy
Time Frame = 1 Day
DRREDDYKey highlights: 💡⚡
✅On 1D Time Frame Stock Showing Breakout of Channel pattern .
✅ Strong bullish Candlestick Form on this timeframe.
✅ Buy above 4400
✅It can give movement up to the Breakout target of 4800.
✅Can Go long in this stock by placing a stop loss above 4310.
✅ breakout this can give risk:reward upto 10 %+
DR REDDY LAB CHART ANALYSISDr.Reddy Lab showing at 4380 is Major Resistance where we can clearly see Long Long Wicks and rejecting the price from same level
At the same time we get Trendline Support and formed Ascending Tringle Chart Pattern.
In coming session we can see such big rally either side of breakout or breakdown.
KEEP AN EYE ON IT….!!!!
DRREDDY Symmetrical Triangle formNSE:DRREDDY BSE:DRREDDY
Time Frame – Weekly
Observations : -
* Symmetrical Triangle form breakout above 4650
* Consolidation & range formation between 4000-4650 zone
* Weekly 200 SMA strong support (Red line)
* Taking trendline support also
* Dry volume
Resistance – 4930 / 5615 / 6180 / 6830
Support – 4000 & weekly 200 SMA
DISCLAIMER : NCFM Certified Technical Analyst. I am not SEBI registered analyst. All posts are for educational purposes only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
DR DREDDY DAILY CHART Buy DR REDDY
In DR Reddy's daily chart patterns RSI bullish diversions
and the company posts a good result
if you want to take trade please concern with your financial advisor
DR REDDYS LABIn Weekly chart DRREDDY, we can see that it is properly following lower trendline.
We can see an upward momentum once it crosses 4400.
Also 4600 level is tested twice,
once it breaks Upper Trendline, we can expect 5000 to be the next rejection point.
Dr Reddys Lab Possible Breakdown Dr Reddys Posted Results. Here it's chart. I think there will be a H&S Pattern Breakdown possible. If Breakout Above Blue line trend will change.
DR REDDY LABS CHART ANALYSISDr Reddy Labs Created Ascending Chart Pattern where its Major Resistance where as showing long long wicks and Rejecting Again & Again from Same Point is Considering such Nodt Important point where again it reaches the same level
If it will break in upcoming session We Can see such Big Rally in Reddy Labs
KEEP AN EYE ON IT….!!!!
DRREDDY view• As long as DRREDDY stock price below Resistance zone from 4544 to 4579 , there will be chance to show one more deep dip towards Support zone from 4215 to 4200
Dr Reddy next supportLooks like Dr reddy is will take support near 3600 level based on fib support and resistance
Dr. Reddy's Laboratories Trend AnlaysisDr. Reddy's Laboratories has touched the support line and is in an uptrend.
Head and Shoulder -A head and shoulders pattern is a technical indicator with a chart pattern of three peaks, where the outer two are close in height, and the middle is the highest.
-A head and shoulders pattern—considered one of the most reliable trend reversal patterns—is a chart formation that predicts a bullish-to-bearish trend reversal.
-An inverse head and shoulders pattern predicts a bearish-to-bullish trend.
-The neckline rests at the support or resistance lines, depending on the pattern direction.
Script = DRREDDY
Time Frame = 15 min
intra day trade for tomorrowshort opportunity in DR Reddy as we can see a inverted head and shoulder pattern
