A convincing breakout above the resistance of 6000. A Cup & Handle breakout ? Stoploss at the breakout level……6000 Target as drawn 6350… Discl:- Invested. Please do your due diligence.
Fundamentals ------------ Growth in EPS P/E 18.38 vs Sector P/E 45.5 Low DEBT D/E 0.05 ROCE 26.6% ROE 21.6% Sales growth (3Yr) 12.1% Profit growth (3Yr) 31.13% ZERO promoter pledge Technical --------- -> 9 Aug'23 ~ 24 Aug'23 - "Distribution" then, a BO candle formed and 5% correction took place. -> After that till 30th Oct'2023 stock forms Lower High & Lower Lows...
11/4 educational purpose only this could be a jackpot trade buy on dips around 4372.60 (20ema/hourly) sl below 4338.35 (50ema/hourly) targets around 4575 / 4675
Dr. Reddys Labs Fut closed at a crucial level. It has to take a U-Turn from the current closing price. Otherwise, speculators will keep selling. And according to TA, we will see the target of 3780 - 3720 levels soon.
Sell drreddy feb fut tp 4200 sl 4375 cmp 4300 price below ma 20 and 50 strong down trend.target may hit in this week.
#DRREDY last trading session formed bearish patern, yesterday traded our retracement area 4320-4360 we can go sell@4330 and tgt 4250-and posistional tgt 4160 once break our resistense level, it will move higher in comming trading session.
Dr reddy is consolidating and is at support. one can go long at cmp with Sl 4496 for the target of 4680 and 4850 positional.
Reasons and indicators to buy: -MACD Crossover! -Above Pivot, nearing Resistance 1 -RSI at 57.6, close to 60 Dangers: -RSI at 57.6 and not 60... strength questionable -No high volume in the past 5 trading sessions
Dr Reddy. Looks good to short. Levels mentioned on charts.
DRreddy buy 5500ce at 55 target 65 drreddy break out
5450 has worked as a good support and resistance in last few days.
Dr Reddy Futures S&R Currently in a range (5349-5238) Breakout may make it move towards 5415/5501 On Breakdown 5170 may come
Formation of Divergence on RSI aswell.
Drreddy Is in a Uptrend channel.4h time frame.It is a very high volatile stock.But very good for intraday as well as long term.Trade with your own Risk.Good luck all.
Looks like a penant formation. If crossed 4900 with strong candle can see 5000 levels
DRREDDY's triangle setup shown earlier triggered its stop levels and now has shaped up to be a rectangle that has broken on the downside. Expect a downmove towards 4770 which is the normal target out of a rectangle. support and caution can be expected at 4845 which is the gap support