DRREDDY - 29th July 2022Stock in Trading Range at 4320 - 4200 Levels.
Wait for Trading Range Break - Plan accordingly
DRREDDY trade ideas
Dr reddy gives another chance?Dr reddy is giving buyers a second chance if it decides to breakout again on above average volume and could see the targets marked T1 and T2.
T1 and T2 are based on recent breakout high and next area of value.
Stop loss should be below the build up area of consolidation.
Keep It Simple
EMA Support and price action supportThe stock DRREDDY broke its long awaited resistance zone on July 11th with an above average volume.
Right now it is retesting the previous resistance zone (Which, according to price action theory might work as support now.)
and also the 50 and 100 day moving average is just below the current price which adds double confirmation.
the 200 EMA is at near 4400, if it gets breached there will be good up move.
It might provide a good swing in upcoming days,
SL of 4300 is a must.
DRREDDY price analysis Price action analysis on DRREDDY.
DRREDDY seems to be forming a w- pattern in daily time frame.
Multiple targets can be taken, earnings release on 28th June , can trigger a blast in the price to the completion of the overall W - pattern.
Target and stop loss indicated in chart, very thin SL, of around 1.5 % from entry point.
Wedge pattern breakout in DRREDDY.For the last few looks DRREDDY was trading in wedge pattern and it has come to re-testing we can take re-testing entry at 4450 and keep his long target at 5205 in 1D time frame.
DOCTOR REDDY LABS, DR REDDY LABS WEEKLYDoctor reddy labs becoming strong on weekly charts giving breakout on down trend line and positive on rsi indicator too
Cause of long
1- Breakout on downtrend line
2- Positive on rsi indicator
double bottom Breakout at DRREDDY#doublebottom #pattern #Breakout (trend reversal) at #DRREDDY (Dr Reddy's Laboratories Ltd) weekly chart. Its #Outperformed #Nifty in current scenario.
BSE: 500124 / NSE : DRREDDY
What Is a Double Bottom?
A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter "W". The twice-touched low is considered a support level.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (DONT TRUST ANYONE)
#nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #kukiinvest #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose 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.
#Drreddy cash -Strong resistance zone 4440-4460#Drreddy cash -Posiitional
29.06.2022
Advance call
Strong Resistance at 4440-4460
Sustain and close above 4450 levels ..
blind buy
Stoploss 100 points target 200-300 points
(Once close above 4460)
Cmp 4365
Breakout in dr reddyThis counter gave a Bo with high volumes on daily chart . Fib 1.618 level mentioned on chart . NOT FA
Go LongDr Reddy has been consolidating for enough time, now is the time for breakout.
R:R - ATR - 2:3
DRREDDY neutral this stock
200 exponential moving average ka breakout hojayega
to long jaskate he
nahito 200 EMA register ke taraha kam kar sakhata he
this is not financial advice
DRREDDY- LONG !NSE:DRREDDY
One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
Close should be good, and Clean.
R:R ratio should be 1 :2 .
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
Dr Reddy BreakoutDr Reddy is one of the stocks to watch for a few days/weeks. Clear resistance level is marked and the break of this can lead to a decent uptrend. It has already come out of the descending channel and has been silently accumulating.
DRREDDY - 8th July 2022Stock hitting resistance zone between 4400-4300.
Bears will try to push prices lower from here as long these levels holg
DRREDDY - Getting ready to break 4420-4450 resistance zoneDRREDDY can make a sharp up move past it's resistance zone of 4420-4450 levels.
DR REDDY Long Swing Trade DRREDDY is forming a double bottom on 1D timeframe, there could be a bullish rally after the breakout of neckline of the Double Bottom. There is also a confluence of 200 EMA on daily timeframe. You can go long after a good breakout of 4440/4435. Place Stop-loss according to you risks, suggested targets : 1st Target: 4680 2nd Target : 4890 .
At 4Hour timeframe we can see a formation of Double Top. The stock has given a breakout of the Double Top which is a good sign for bullishness.
DrreddyOn verge of breakout structure is lower high at the moment.. if breaks and closes can be good long candidate
Inflection PointWhen Price consolidate near 200 Day Moving Average and break the upper boundary of the consolidation zone then high probability price continue the trend .
DRREDDY - vcp Volatility contraction pattern
Seems good to long
On verge of breakout near 200 dma
A good setup for positional trade
FRESH SHORT OPPORTUNITY POSSIBLY DR REDDY LABS #DOCTORREDDYPossibly a fresh short opportunity in reddy after lookout a nect move or closing breaking important support and on rsi too giving negative signals
DRREDDY | INCOMING BREAKOUT | 2:1 RRDrreddy has been repeatedly testing an important resistance level of 4400. Forming a double bottom, Drreddy has established a good base & is now ready for breakout above 4400. Trade is as follows.
Entry 4365
SL 4239
Targets 4644, 4796.
Please trade according to your risk appetite. Once in the trade, enter SL first.
Happy Trading!
