DRREDDY trade ideas
Dr Reddy's weekly similar short & long trade set-upEducational purpose only :
Dr Reddy's stock give better trade opportunities similar short trade & long trade setup .
Similar short trade :
Enter short trade set-up . after market reach 4100 level
Target minimum for short target 1 = 3930-3920.
Extreme target = 3860-3840.
When short trade completed 3840- 3850 level is a very crucial level for bounce back . You can confirm that reversal take Trade for longer....
Dr Reddy's piercing line pattern on weekly On daily charts there is gap around 4200 and 4284, it can go and fill the gap first. it's just a prior assumption.
Dr Reddy's piercing line pattern on weekly charts. Dr Reddy's piercing line pattern on weekly charts.
Also there is bullish engulfing on daily charts, any upmove on Monday will confirm further move.
First resistance zone seems to be near 4200 and 4284, if sustains above that then 4400 in unavoidable.
DRREDDYDRREDY Labs is forming pattern and it is around its SUPPLY ZONE. Traders add it to watchlist.
Drreddyhigh : 07/07/2021 : 5,614.60
low : 18/02/2019 : 1,872.95
75 % : 4679.18
50% : 3743.77
25% : 2808.36
dr reddy expecting 1000+ fallAs we can see the stock is moving according to harmonic pattern and falling from point c as expected. Now i am expecting 1113 rupees fall in this stock so the best price ever possible to buy for investment is at 3754 , so keep an eye on this price and have patience. Candle close above point c will make the pattern invalid
Note: stock may bounce from 4467 also so watch price action at this level also.
good luck
Please like & share ideas if you find them useful as it takes much efforts to learn technical analysis and our 99% Harmonic pattern go well if you go through all previous ideas posted on trading view
DRREDDY LAB TARGET 3614DR REDDY LAB under bearish. Crossed monthly and the weekly trend towards the downside. Target 3614
Dr Reddys LabsDr reddys Labs is forming wedge pattern and it is around its support line. Traders add it to watchlist.
DRREDDY is on bullish DrReddy is Trading on Rangebound Market Takes Support from 4300 and Expect upside towards 5400 in a shor-term perspective
DR. REDDY'S LAB Double bottom PatternSpike In volume in 2nd Bottom Compared to 1st Bottom
Both Indicating an uptrend
DRREDDY - A perfect VCPAround 20 days of consolidation and VCP
Not making any new higher highs or lower lows recently
A perfect setup for breakout
A pharma giant may set the tone for rest of big pharma stocks too maybe
Dr.Reddy DTF support 4180 to 4200
Resistance 4400 to 4450
Breaking 4100 it will test 3800 3600
#Dr.Reddy
Dr Reddy Cmp 4415 dated 2-2-2022Dr Reddy Cmp 4415 dated 2-2-2022
1. Trendline BO @ 4425
Buy for a tgt of 4485-4560-4670 SL 4320
It is just a view, pls trade at your own risk.
NO to HealthCare - Dr REDDYHeathcare is history, don't see any good hike now.
SELL BELOW 4050
STOPLOSS AT 4650
TARGET FOR 3550
DRREDDY LONGAfter a healthy correction, DR REDDY is now at great discount. It is in a good support zone. DR REDDY also has great financials, one can totally add such a stock in portfolio or increase stake. If bounces from here right away, will be looking for a short term bet too.
Simple Trade Setup | DRREDDY | 31-01-2022 [INTRADAY]NSE:DRREDDY
Observations:
1) On 1 day time frame,we can see that it has been having continious down fall and now it is near to immediate last major support of 4200 level.
Range of 4200-4275 is working as support in previous days. It has now chance to bounce from it. But if it failed and gave breakdown of 4200 level range then we can see some more down fall of 50points for sure and then breakdown of 4145 can lead it more down to test 4000 level.
Please refer below chart : 1day Time Frame.
2) Please refer below chart : 15min Time Frame.
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Trade Setup for 31-01-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Long aroundLong in range of 3900 -4000 for tgt of 6000.
Just a view better seek professional advice.
DR REDDY SWING TRADEIt's forming TRIPLE BOTTOM pattern wait for reversal candle,
As we know market discounts everything so the downfall happened before the earnings data release on 27 jan
so there would be profit booking and new buyers should come
keep an eye on it.
