DR REDDY IS A BUY NOWDr. Reddy's is currently in an uptrend, retracing to its previous high. It's advisable to buy at every dip as the targets are set quite high.
DRREDDY trade ideas
DR REDDYSI Observed these Levels based on price action and Demand & Supply which is My Own Concept Called "PENDAM CONCEPTS" ... Please Don't Take any trades based on this chart/Post...because this chart is for educational purpose only not for Buy or Sell Recommendation.. Thank Q
DRREDDY Hourly Chart suggest 5% upside in 5-10 daysDRREDDY Hourly Chart suggest 5% upside in 5-10 days ... Targets 6000+
Happy Investing.
DRREDDY Dr reddy's lab is making a cup and handle formation in the chart, if its breakout is confirmed at level 6125 after the breakout we will take entry after it is retested there are 1st target is 6400 and 2nd one is 6500
Dr. Reddy's Laboratories Limited - Long Setup, Move is ON...#DRREDDY trading above Resistance of 5967
Next Resistance is at 6474
Support is at 5390
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
IS IT ABOUT TO BREAK ATH DR. ReddyHello Traders,
Dr Reddy good Price Action seen in last few days. HH pattern & impulsive waves on Upperside.
Is It about to Break ATH levels once the levels are broken plan out for an Target of 6800 with the minimal risk.
HAPPY TRADING
PRINCE
DR Reddy's LabsPullBack in 1D time frame at 61% fib levels
Buy Above 4740
SL - 4660
TP1 - 4820
TP2 - 4902
TP3 - 4977
DRREDDY MOMENTUM UNDER RADARDr. Reddy's Laboratories Ltd. is an interesting stock to keep on radar
1. RSI on all time frames above 60
2. High Trade and Delivery Quantity during week
3. Increasing relative Strength - Bench Mark index
4. Increasing relative Strength - Sectoral index
5. 20 SMA Crossing 50 SMA from below recently
6. Stock outperforming sectoral index both 1 week and 3 months
7. Big Green Marubozu Candle with high volume on weekly chart
8. Price walking on Upper Bollinger band on daily chart
9. Price crossed above 20 Week SMA during last week
Major Support 6000-6130 zone Next Resistances near 6500 - 6853 zone
Keep on Radar and Lets See How it evolves
Caution : Pharma Shares are subject to volatility on unexpected US FDA restrictions and observations
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
dr reddy cup with handlecup with handle formation in daily chart
costly stock but valuation is low.
It is just a view, please trade at your own risk. I'm not Sebi registered adviser.
Ready For Liftoff! Big Volume Spike Before Strong Breakout ✅The stock is showing signs of breaking out after forming a descending triangle, signaling a strong upward move.
✅ Strong support around 5500 levels due to the trendline. The breakout above the resistance around 6400 suggests a potential move towards 7000+ levels.
✅RSI is at 65showing strong bullish momentum. MACD histogram is positive, supporting the breakout with bullish signals.
✅Huge volume spike confirms strong buying interest and bullish sentiment, supporting the breakout scenario.
✅The company has shown steady revenue growth and strong profit margins. Its solid balance sheet and effective cost management contribute to financial stability.
✅A leading player in the pharmaceutical industry, the company has a strong presence in the global market. Continuous innovation and expansion provide a competitive edge.
Acquisition positive for the counterDr Reddy CMP 6206
News of acquisition of Nicotinell portfolio from Haleon will be positive for the counter. It is all set to move up very significantly.
DRREDDY now seen to setup his up trendOn daily time fram Dr Reddy showen W pattern brekout. One can see position at entry level 6066 and SL 6000
DRREDDY Decent long term investment for higher levelsDRREDDY looks good enough buy for few months for 7500 levels as price looks to go up after creating a h&s bottom .
Cheers
Falling Wedge pattern breakout in DRREDDYDR REDDY LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Falling Wedge Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 6480+.
✅Can Go Long in this Stock by placing a stop loss below 5725-.
DRREDDYDr Reddy Hold 1 to 3 Month
Small Traders Entry 5880 Above Day candle Close
SL 5517 Day candle Bellow Close Only
First Target A to C Range, 2nd Target 1:5
(SL Day candle close only, Target Trigger Price)
All detail for chat. good entry at mark price only. and must stoploss minimum risk and good profit. risk ratio 1:1 in first target. This is not call, Just my idea. Please understand your risk and take full responsibility of your actions
DRReddy - extremely bullishIn charts its clearly showing multiple cup and handle patterns and price making new high levels and looks extremely bullish
Bullish Breakout: Dr. Reddy's Laboratories Flag PatternDetails:
Asset: Dr. Reddy's Laboratories Ltd (DRREDDY)
Breakout Level: Above 6200
Potential Target: 6500 and beyond
Stop Loss: Below breakout level or as per risk tolerance
Timeframe: Short to medium-term
Rationale: Dr. Reddy's Laboratories Ltd (DRREDDY) is showing signs of a potential breakout above the 6200 level, which is accompanied by a flag pattern formation. A breakout above this level could indicate a bullish sentiment shift and pave the way for further upside momentum, with a target potential of 6500 or higher.
Market Analysis:
Technical Breakout: Breaking out of the flag pattern above 6200 suggests a technical breakout, potentially attracting buying interest and driving the price higher.
Market Sentiment: Positive market sentiment or company-specific factors may be contributing to the anticipated breakout in DRREDDY.
Price Target:
The target for DRREDDY is set at 6500 and beyond, based on the breakout from the flag pattern.
Risk Management:
Implementing a stop loss strategy below the breakout level is essential to manage risk in case of unexpected price reversals.
Timeframe:
The projected upside move for DRREDDY is based on a short to medium-term outlook, but actual timing may vary based on market dynamics.
Risk-Reward Ratio: Consider individual risk tolerance and adjust position size accordingly to maintain a favorable risk-reward ratio.
As with any investment opportunity, conduct thorough analysis and consider factors such as market trends, company fundamentals, and risk management strategies before making trading decisions.
Bullish Flag pattern breakout in DRREDDYDr REDDY LABORATORIES LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Bullish Flag Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 7100+.
✅Can Go Long in this Stock by placing a stop loss below 5880-.
Dr Reddy Cmp 6050 Reversal from SupportDr Reddy Cmp 6050 dated 16-4-2024
1. Reversed from Support
2. RSI reversal
Buy above 6075 target 6125-6185-6225-6280 SL 5970
It is just a view, please trade at your own risk.
Dr Reddy analysis for long term As per my analysis DR Reddy is trading in very good support zone. So, long term investors can consider this stock at this price level.
Traders can consider this stock if the daily candle closed above Rs 6220 price.
Target 1 - 6500
Target 2 - 7000
SL - 5880
Your feedback is more valuable. Please provide me your feedback in comment section.
Note:
This analysis is only for education purpose. Please do your analysis before taking any trades.
DRREDDY - LongGrandfather, Father & Son Strategy
RSI above 60 for Grandfather (Monthly time-frame) & Father (Weekly time-frame)
RSI taking support on 40 for Son (Daily time-frame)
Support of Hammer on 20 March 2024 didn't break.
(Entry) Hammer Confirmation (Weekly) Above 6211
(Proper SL) SL will be low of hammer (Weekly) below 6034
(Lower SL) If the SL is too much you can use the SL of BeltHold Candlestick on Daily 28 March -- 6078
(Profit Level 1) 6342
(Profit Level 2) 6450
