About to break from the descending channel - DRREDDYDRREDDY - After consolidation, its about to break from the channel.
RDY trade ideas
DR REDDY ANALYSISDr reddy recently broke the trendline , retested it , and now formed a triangle type pattern , retraced 0.618 and going upward . Can go for long if breaks the triangle pattern.
Dr. Reddy's News Driven Breakout All Set for 5200+ in Short TermTechnical Breakout today on the Charts + News Driven Trigger of the Sputnik V Vaccine today. What else is needed in the Setup?
- 5200 might as well be achieved this week i.e. November expiry, quite a high chance
In addition to Nifty Pharma index is also in Bullish mode, Expecting Dr. Reddy's to see New ATHs soon too!
MOVING AVG CONVERGENCE & BREAK OUT OF THE STOCKDR REDDY IS POISED TO BREAK OUT AFTER A LONG 77 DAYS OF CONSOLIDATION.
DRREDDY (D)Went up on rising volume & fall on back of decreasing volumes,
Breakout & Rest,
Sitting comfortably above horizontal support & 50EMA,
looking good at CMP, can reach 5500 & above it will be ATH
SL below 4672 DCB.
DRREDDY Levels for 03-DEC-20(Intraday) Buy above 4865 for 15,40,70++
Sell below 4820 for 15,40,70++
Can comment or ping me for any query
All views for Educational purpose, Trade at your own risk
Bullish breakout from downward sloping channel ?If breaks and sustains below 4600, further downside and if sustains above 4850 -4900 + MACD crossover, bullish breakout ? Neutral in between.
DRREDDY Levels for 01-DEC-20(Intraday) Buy above 4860 for 15,40,70++
Sell below 4800 for 15,40,70++
Can comment or ping me for any query
All views for Educational purpose, Trade at your own risk
DR reddy look promising to go LONGDr reddy having strong support around 4650 and showing sign of swing reversal and try to sustain above this level and having hurdle around 5000 breakout of 5000 will definitely lift the stock to 5600.
Initiate buy in Dr reddy for target of 5200 and 5600 with stoploss of 4657.
#DRREDDY FOR 5200A CLASSIC BULLISH FALLING WEDGE PATTERN WITH PREVIOUS SWING TOP ACTING AS A GOOD SUPPORT DEFINING CHANGE OF POLARITY. REDDY IS STANDING AT A VERY GOOD RR FOR TGTS OF FALLING WEDGE THAT COMES AROUND ALL TIME HIGH.
LONG DRREDDY WITH CLOSING BASIS SL 4760 FOR TGTS 5000/5200/5500
DrReddy - Last chance to buy before another runDrReddy is getting support at 0.618 fib level and the traded volume is also decreasing. In 1-2 days we may see a spike in volume and which will start another bull run. It is also forming a Flag and Pole pattern. If Flag and Pole breakout happens than Target is 5900++ in coming weeks.
heading 6200 ++I am looking for levels of 6200 + in DRL. 4000 on daily closing basis is my SL . 4500-4550 is the level to enter in stock.
Disc : It's not an investment advise to buy or sell
