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.
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.
->
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
See all ideas
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DRREDDYM2024
DR REDDYS LABS FUTURES (JUN 2024)DRREDDYN2024
DR REDDYS LABS FUTURES (JUL 2024)DRREDDYQ2024
DR REDDYS LABS FUTURES (AUG 2024)DRREDDY1!
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Frequently Asked Questions
The nearest expiration date for DR REDDYS LABS FUTURES is Mar 25, 2021.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell DR REDDYS LABS FUTURES before Mar 25, 2021.