Based on my PredictiveSystem's signals, its going to be a RED candle on 22-May-2018 for DRREDDY Sell Below: 1888.3 for targets - T1: 1874.1 T2: 1865.6 T3: 1856.8 SL: 1903.4 Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before ...
DR REDDY IS LOOKING TO RECOVER TODAY IT HAS FORMED A SPINNING BOTTOM WITH A LONGER WICK ON THE DOWNSIDE INDICATING BUYING PRESSURE AT LOWER LEVELS RSI HAS SHOWN A REVERSAL SPIKE NOW IF CROSSES 2049 TODAY THEN IT CAN TEST THE LEVELS OF 2120-2189 IN FUTURES FUTURES TRADE BUY @1993-2005 STOP @1975 TARGET 1@2040 TARGET 2@2080 TARGET 3@2120 LOT:400 SUGGESTED:2 LOTS
Going long above the today High is advisable , they are moving in down ward channel , they ware suppose to brake the channel and drop heavy , but it did not happen in fact they are extending the channel , its likely will stay in Channel for another week , Look for very light investment on short term trade
In a very similar to Nifty (I shared an idea on it just 4 hours back), there's an observation of Stochastic Triple Divergence in NSE:DRREDDY indicating a bear trend. A short position is recommended with a target of 2004(t1) & 1904(t2). A stoploss of 2100 is highly recommended. Selling range should be (2040-2070).
Trend can't be confirmed since we have one lower top and we will wait for another lower top to be confirmed. But due to formation of Bearish Engulfing at lower top we would wait for next candle to be red and lower than previous candle and we can go short on the trade. Trade entries are described in charts