DR REDDYbuy after trendline breakout | cmp - 4442 | buy above - 4480 | target- 4630 , 4930
//I am not a sebi registered agent , this post is only for educational purpose only , take your own decision or consult your financial advisor//
DRREDDY trade ideas
Dr Reddy: Unable to sustain breakout above key level NSE:DRREDDY seems could not be able to pierce through the major resistance line around 4625 (the recent swing high).
Note the volume. It's pretty significant and coincides with the Q2 result. So, things are interesting here.
Chartically, the following traits are seen:
A Head & Shoulder formation is seen with the neckline around 4200.
There is a downtrend line coming down since last one year.
The downtrend line & the H&S neckline is creating the symmetrical triangle (pennant) pattern.
Now the most interesting part: 31/10/22 has it's Q2 earning date. And see the volume, huge surge.
BUT The volume surge does not able to push the price above its recent swing high (Head of the H&S pattern) 4625.
Rather it closes (CMP: 4433) closes near its long-term support line of 4420-4430 level.
For it to go up, has to convincingly break past 4625 level.
Tradewise,
Resistance: 4625
Support: 4290
Next target: 4750/4900
The breakout above 4625 has to sustain good volume.
Buy IdeaBig Upside above 4389.
Triangle formation in progress.
levels are on the chart.
the analysis is just for educational purposes.
DRREDDY LongStock looks good for a move up at the break of the plot , consolidated for a long time and is on the break of cloud and trendline
Showing signs of bullishness in both daily and hourly timeframes
dr reddy labsDR REDDY LABS ....
1 - forming inverted h&s in 15 m time frame
2 - price trading above 200 ma in 15m TF.
3 - ready for BO
4 - price marking higher high
buy above cmp
sl @ 4270
t @ 4380
Intraday only
DRREDDY LONG TRADE (Intraday OCT 11)DRREDDY is in uptrend at daily level and in 15 min it is making bullish pennant wait for breaout and then watch if it takes support then we could expect upside move. Thank you !
DRREDDY LONG TRADE (INTRADAY OCT 10)DRREDDY is in uptrend on daily level and in 15 min it is making descending triangle , let's wait for breakout on upside only as trend is our friend. Thank you!
triangle formation in dr reddyDR REDDY
Time frame- DAILY
*Resistance - 4410 once closing above 4410 than upside till 4900 is possible.
*Support - 200 DMA, 100 DMA
*Short term
*Reason- long consolidation, and triangle formation breakout, strong support on 200DMA & 100 DMA
Disclaimer:- I am not SEBI registered analyst. Only for information and education purpose. Please consult your adviser before investing.
#technicalanalysis #technicalanalyst #swingtrading #swingtrader #fundamentalanalysis #bullish #chartoftheweek #trading #tradingstrategy #stockmarket #stockmarketindia #stocks #stockmarketnews #stockstowatch #stockstobuy #stockoptions #longterminvestment #investment #investmentopportunities
#derivatives #derivativestrading #index #indexinvesting #optiontrading #chartanalysis #trader #tradingsignals #tradingview #education #breakout #pattern #information #investing #consolidation #consult #supporting #volume #long #ZYDUSLIFE #PHARMA
Weekend Pick 1 - DR REDDY around Bullish BreakoutDr Reddy!
Fundamentally very strong, a must have in the long term portfolio from Pharma.
FIIs and DIIs have added holding in the last quarter!
Technically is on the verge of a triangle bullish breakout..
R 1: 4600
R 2: 5000
R 3: 5450
Strong Support : 4000
R : Resistance
Breakout ChartDr Reddy's chart is due for break out.
It will be a long candidate once it stays above .
Wait for the perfect breakout and go long for it.
DRREDDY - Consolidation BreakoutNSE: DRREDDY is closing with an bullish consolidation breakout candle supported with high volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been consolidating for the past few days and moving along the trendline which is indicating demand.
One can look for a 8% to 11% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.
Dr reddysAlways follow Risk and Position Management❇️❇️
For more information like this follow me in Tradingview @Jagadeesh11616125
Happy trading😊
DRREDDYS ANALYSISHNS PATTERN: Checked
============
Price & Volume relationship :
------------------------------------
Volume is supporting the Upside movement.
Conclusion: Wait for a breakout on either side for good RR.
SWING TRADE IN DR REDDYDr Reddy was consolidating in Trangle Pattern for some time and have given breatout. Keep SL as per Risk Managment.
DICLAIMER
I am not a SEBI registered analyst. My studies are for educational purposes only. Please consult your financial advisor before trading or investing.
16 Sept | Nifty Banknifty prediction | Best stocks to trade16 Sept | Nifty Banknifty prediction | Best stocks to trade
Drredday Swing-Trade activatedNot a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis Not a call - please check your analysis .
Dr reddy for swingCurrently following the channel and also forming symmetrical triangle. One can enter now as per channel or else wait for symmetric triangle breakout. Follow SL and target. Do your own analysis also.
Another big hit in the making?Please do not trade based on my opinions they are not set in stone. I just have high RR but poor accuracy and I am completely open about it. This is just me keeping log of the trade I took and not a trade recommendation. The previous swing high only gives me 1:5 RR which is not my ideal RR as I gun for 1:10. Let's see what happens when it hits target, I might trail SL to BE and let it ride till it goes 1:10.
Break of support and bounce backs are the best and I strongly recommend you learn from them.
DR REDDYS LABS The stock is in SIDEWAYS bETWEEN 3860 TO 4500
We Can Inter In this Trade Only If it Breaks These Levels Either Upside Or Downside
DREEDDY STOCK ANALISIS DAILY Time FrameThis Stock multiple support ..........24/8/2022 Long Side View
DRREDDY DRREDDY forms channel pattern and retest a bottom of a trend line
looking good for swing and positional trade
Dr reddy buy above 4240 Dr reddy has formed a hanging man pattern where open equals to high ,buy above 4240 with stop loss todays low
DRREADY in channel pattern #swingtradeDRREADY in channel pattern can go for LONG (BUY) with risk: reward 1:2.5 a small swing trade...
