Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.
The stock had entered into the zone from which it had rebounded in the past.
If you search the news on 15th Feb 2019...the entire world was pessimistic about the Dr Reddys's.
The FDA was raising issue on the one of the most important manufacturing plants...
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
As per my wave analysis, short term trade is UP after the consolidation as indicated by the arrows.
And then long term - there will be a fall coming once this UP move is completed.. so we can trade that too..