DR REDDY LABSA 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.
DRREDDYF2025 trade ideas
BULLISH : Trend ReversalFundamentals
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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
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-> 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 (Down-Trend).
-> On 30 Oct'23 a Hammer is formed in down-trend which is the first sign on TREND REVERSAL.
-> Then, On 3 Nov'23 "Higher Low" is formed that confrims the "TREND REVERSAL".
-> On 10 Nov'23 again a Higher low formedand & it contines till last trading session i.e. 17th Nov.
RSI > 60 (D)
ST Moving Averages Cross-Over
Close above MT MA
Trend : Bullish
Pattern : Higher High / Higher Low
Volume : More volume is required to shoot the price up.
Mine Stop-Loss 5394 (DCB)
Mine TGT 5703 (1-2 days)
Short-Term TGT 5990 (by 1st week of Jan'2024)
dr reddy11/4 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
NSE DrReddys Fut Could Crash MoreDr. 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 4200Sell 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 SELL POSSIBLE#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 ReddyDr reddy is consolidating and is at support. one can go long at cmp with Sl 4496 for the target of 4680 and 4850 positional.
DRREDDY LONGReasons 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 5450 A perfect trend decider 5450 has worked as a good support and resistance in last few days.
Dr Reddy FuturesDr Reddy Futures
S&R
Currently in a range (5349-5238)
Breakout may make it move towards 5415/5501
On Breakdown 5170 may come
Drreddy in Uptrend ChannelDrreddy 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.
Dr Reddy - LongLooks like a penant formation. If crossed 4900 with strong candle can see 5000 levels
#DRREDDY bullish triangle to bearish rectangleDRREDDY'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
#DRREDDY Triangle almost ending - Sharp rally should followDRREDDY should complete its Wave 4 triangle in the next few hours and head a few hunder point up to 5600 area. Watch the risk level for managing risk if entering. A good Risk Reward trade.
#DRREDDY - surge out of a triangleDRreddy looks in good company with all Pharma heading up. A break out of this triangle is a good opportunity to catch an upmove
Chart Pattern #Drreddy # expect a breakdown below 5100 & a good downside rall
Levels plotted on chart
