DRREDDY GO LONGDRREDDY GIVES NICE BREAKOUT ON CHART
GO LONG ABOVE 5490 OR RETESTING OF BROKEN RESISTANCE FOR THE TARGET OF 5540, 5600 & 5648
RDY trade ideas
big move expected in buying side in drreddyHello guys i had find this setup of drreddy in 4h timeframe.the reason behind this analysis is its is in uptrend and the pharma sector is also in uptrend and the scenario for pharma sector in this pandemic situation is look bullish also it is in breakout mode the big resistant is on 5500 we will not take immediate trade we will wait for breakout and some confirmation before taking any position i will watching closely this script i will update on it and also plzz do your own analysis before taking any trade if you like my analysis do follow like and share thank y
reistance breakout with strong candle broken resistance of multiple confluence horizontal + trendline
buy above 5510
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
Dr Reddy is Ready for Run!5400 Range has acted resistance twice in last 1 year. But now it is showing signs to break out of it and into uncharted territory.
Target can be anything from here 6000+, just need to keep trailing. Will keep on updating
Long Term Stop Loss : 5150
Short Term Stop Loss : 5300
DR REDDY INVERTED HEAD & SHOULDERWAIT FOR ZONE TO BREAKOUT.
AGGRESSIVE TRADER CAN ENTER AT RISING SPPORT LINE. REFER HOURLY tf FOT BETTER CLARITY
DRREDDY Levels for 14-JUN-21(Intraday) Buy above 5475 for 15,40,70+++
Sell below 5435 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
consolidation breakoutstock is well placed above its 20,50,100 day SMA which supports bullish sentiments
DR REDDY- stock forming in the ascending triangle pattern.
-Stock break and sustain above 5525 Next level to 6300/6700/7200 levels .
-Support is near 5000 level on chart
DRREDDY can give 23% returns 1:6 Risk to Reward ratioI will go LONG on DRREDDY because:
The price is under Support/Resistance zone.
It has touched the support and may reach the resistance zone .
Target would be the Resistance area .
Book profit when it reaches the resistance zone .
Entry - 4426
Target - 5450
Stop loss - 4263
DRREDDY BreakoutDRREDDY breaking out from 9-month consolidation, from falling trendline with rising volumes, RSI also breaking out also CNXPHARMA index breaking above all-time highs.
Can expect immediate targets of 5800/6000.
Dr Reddy's Lab: 50% upsideDate: 13 June 2021
Flag Pattern in Dr Reddy's lab
Approx. 50% upside in the stock in 1.3 Yrs.
HEY ITS A GOOD CHART PATTERN .Hi Everyone its a good pattern have to wait for the rejection then buy or sell it
Drreddy - Nearing ATH - SputnikVConsolidation near the ATH and forming a triangle pattern when the company is dealing with Sputnik makes the price to break and move up.
I am not used to listen to the news and trade accordingly but sometimes I confirm the break with the news.
Breakout from a parallel patternIt's just for study purpose, drreddy brokeout from an important resistance in both daily and weekly time frame, looking good for a healthy upmove. Opinions welcome.
