AS PER MY LAST POST SHARE PRICE CAME DOWN AND TOUCHED BOTH THE TARGETS.
RECENT CHART MOVEMENTS SUGGEST THAT DR REDDY MAY MOVE UP TO 2800.
BEFORE THAT IT WILL REACH 2549.
HOURLY CHART DEPICTS THIS PRICE LEVEL.
IF ONE ENTERS AT 2550, THEN KEEP STOP LOSS AS 2506.
Bullish & Bearish Bat pattern on 2H Chart of DRREDDY. BUY 2557-2562, SL 2539, Target(s) - 2574, 2580. SELL 2777-2783, SL 2812, Target(s) - 2763, 2753.
I starting learning Harmonics some days ago and just observing currently, how the price action works here and thereby trying to refine on my Target(s), SL and entry levels.
DR REDDY SEEMS TO BE HEADING FOR 2379 LEVELS.
REASON? SELL SIGNAL OBTAINED AT 2800 AND SINCE THEN PRICES ARE GOING DOWN.
OTHER INDICATOR INDICATES THAT INVESTORS HAVE MOVED OUT.
NATURALLY, THE PRICE TENDS TO GO DOWN.
LET US SEE THE REASON TO COME OUT.
STOP LOSS - 2693.
Drreddy looking weak on chart and stock reversing from nearest resistance 2,840 level we can see 2,760-2,730 level as per chart if stock break resistance level we can see new upside move in stock towar 2,900-2,940 levels. If Drreddy break 2,720 level we can see more downside in stock as per ascending channel pattern.
Target : 2710
Sell Below : 2787
Stop loss : 2840
After panic in pharma sector today , more selling can be seen tomorrow .
DRREDDY has broken from a support and has formed an inside doji on hourly. Can sell below 2787 for targets of 2787 in coming days.
Can sell on rise as long as doesnt go over 2850 .
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