short term sell below : 4630
target @ 4050
stoploss above 4780
last 14 months this stock is trading in between a strong supply and demand zone. excepting a previous level of support 4050 to 4000 in a couple of weeks. current global cues are in negative mode.
Go Long above 4699.1 for Targets of 4861.2, 5023.3, and 5185.4 with SL 4537
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from around 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with...
Everything on the chart. This is my view & I change view faster than mkt!! I will suggest waiting for some sort of bounce towards the TL. However, that may change if I find something otherwise. NOTE- View is personal & not a trading recommendation- Pl...
Multiple bullish harmonic pattern formation
PRZ levels confluence at zone for the both the harmonic patterns
Will act as strong demand zone
GOOD REVERSAL POSSIBLE ON MATURITY
NSE:DRREDDY
as one can see Dr. Reddy's share heading towards harmonic PRZ., so here if you find reversal at PRZ then only go for swing trade.
******whatever charts or levels sharing here are just for educational purpose only, not a recommendation. Please do your own analysis before...
NSE:DRREDDY
Observations:
1) On 1 Day time frame, After Friday's doji candle/spinning top candle, today it made hammer pattern.
Also it has been taking support and closing above 400DMA which is very very major support for any stock.
Only negative thing is that volume was lower than Friday.
Please refer below chart : 1day Time Frame.
Immediate...
Dreddy has given a breakout from the a trend line and looks like it is setting up for a good momentum
Hold till month end October
Entry- CMP
SL 4849
Target - 5430
R:R - 1:5
Buy above 4960 for 15,40,70+++
Sell below 4935 for 15,40,70+++
Can comment or ping me for any query or live updates
All views for Educational purpose, Trade at your own risk
After the downfall of more than 15% in DR . Reddy , it started to recover. Now it gave a Fresh Breakout from the Trendline. Also Pharma sector too looks good for going long.
![DRREDDY: Simple Trade Setup | DRREDDY | 26-10-2021 [ INTRADAY]](https://s3.tradingview.com/e/E3N2nRlW_mid.png "Simple Trade Setup | DRREDDY | 26-10-2021 [ INTRADAY]")
