RDY trade ideas
Dr Reddy Cmp 4415 dated 2-2-2022Dr Reddy Cmp 4415 dated 2-2-2022
1. Trendline BO @ 4425
Buy for a tgt of 4485-4560-4670 SL 4320
It is just a view, pls trade at your own risk.
NO to HealthCare - Dr REDDYHeathcare is history, don't see any good hike now.
SELL BELOW 4050
STOPLOSS AT 4650
TARGET FOR 3550
DRREDDY LONGAfter a healthy correction, DR REDDY is now at great discount. It is in a good support zone. DR REDDY also has great financials, one can totally add such a stock in portfolio or increase stake. If bounces from here right away, will be looking for a short term bet too.
Simple Trade Setup | DRREDDY | 31-01-2022 [INTRADAY]NSE:DRREDDY
Observations:
1) On 1 day time frame,we can see that it has been having continious down fall and now it is near to immediate last major support of 4200 level.
Range of 4200-4275 is working as support in previous days. It has now chance to bounce from it. But if it failed and gave breakdown of 4200 level range then we can see some more down fall of 50points for sure and then breakdown of 4145 can lead it more down to test 4000 level.
Please refer below chart : 1day Time Frame.
2) Please refer below chart : 15min Time Frame.
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Trade Setup for 31-01-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Long aroundLong in range of 3900 -4000 for tgt of 6000.
Just a view better seek professional advice.
DR REDDY SWING TRADEIt's forming TRIPLE BOTTOM pattern wait for reversal candle,
As we know market discounts everything so the downfall happened before the earnings data release on 27 jan
so there would be profit booking and new buyers should come
keep an eye on it.
Dr Reddy Labs Chart Analysis 28-1-2022Hi Friends, I am giving my personal in-depth analysis of Dr Reddy as per its chart. Please note that these are my personal views. You should consult your financial advisory before investing.
CUP AND HANDLE IN MONTHLY CHART OF DR REDDYScup and handle formation in monthly chart of dr reddys ......long term view for 5900 ++ do your own research 7 invest
Drreddy viewAlso near Crucial supply Zone it may go up in coming trading session keep your eyes on daily chart
DR.Reddys Stock in Over Sold StateTake a look at the Dr.Reddy Chart , it is in the oversold state it will revert back in no time
Dr reddy 3,4% upside in few days... Dr reddy stock which I am following for a long time is trading at very good price, the risk reward ratio is very good...
DR REDDY in support zoneIn support zone
cmp:4496
Can buy if next candle break level 4567 (green big strong candle)
Target 1 and 2 (mentioned in chart)
follow strict SL (mentioned in chart)
educational purpose
DRREDDYDRREDDY has been consolidating in a parallel channel. It is now at a support level. Bottom wick suggests the buying pressure.
Tgt and SL mentioned in the chart
Seems like correction is over.Hopefully correction is over .. may start upward journey..
Just a view better consult a professional.
Dr reddy longDr Reddy has been taking support at the horizontal line and is taking resistance at 200 DMA. Hope at least this time it breaks the 200DMA. But moving till 200 DMA itself is a good move and sl can be the horizontal support minus some grace points.
SWING TRADE - DR REDDYS LABS - R:R @ 1:2Potential Opportunity as Swing Trade in RELIANCE INDUSTRIES
Risk : Reward - 1:2
Entry - 4705
Stop Loss - 4590
Target - 4935
This is for Educational Purpose only, apply your prudence & consult your adviser before any investing.
HAPPY TRADING...... :)
#nse #swingtrade #nifty #drreddy #nifty50 #bullishflagbreakout
DRREDDY- Consolidating around 4600-4700Can take a shot, and accumulate around 4530- 4650. Keeping SL @ 4450 on closing basis.
Target- 5000- 5100
*Note- Only for educational purpose.
Positional or Longterm Opportunity in Dr Reddys LabsGo Long above 4703.4 for Targets of 4944.8, 5186.2, and 5427.6 with SL 4462
Reasons to go Long :
1. On a Weekly 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 0.318 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.318 Fibonacci level.
3. In addition to this the stock gave Trendline breakout.
4. On a Daily timeframe if we draw the Fibonacci retracement tool from the recent swing low to the recent swing high then we see stock took support from 0.618 Fibonacci level and a bullish candlestick pattern Bullish Hammer is formed around 0.618 Fibonacci level.
Dr Reddy's target for 1-2 month. stop loss 4731
target 4990
target 5130
delivery investment.
buy if stock move above 4862.
reversal trend.
