Trade ideas
SWING TRADE - R:R - 1:2 - DR REDDY LABS (NSE:DRREDDY)Potential Opportunity as Swing Trade in NSE:DRREDDY and also predicting positive for long term investment.
Price touches multiple time at resistance, its gave break-out the trendline with STRONG GREEN CANDLE then we can predict bullish rally onwards.
SWING TRADE - RISK TO REWARD - 1:2 ( NSE:DRREDDY )
ENTRY - 4750
TARGET - 5070
STOP LOSS - 4590
This is for Educational Purpose only, please apply your prudence & consult your adviser before any investing.
#nse #swingtrade #nifty #drreddy #riskrewardratio
Dr. Reddy’s is at retest levels to go up or down …. Dr. Reddy’s is at retest levels to go up or down ….
Reasons/Traits :
• Bearish Cypher harmonic pattern is getting formed, to complete this pattern, trend will be up
• 200 MA is tested and 0.5 Fib levels are rejected and 0.382 Fib levels giving support in last couple of days
• Currently 1350 support taken, where 5 EMA is crossing 20 EMA and 200 EMA from bottom (currently all 3 at same place)
• 4850-4950 levels need to be broken to move down or up respectively
What can happen next :
Scenario 1 : An upside break out of 4950 can take price to 5100/5250/5400 levels to complete harmonic pattern
Scenario 2 : A downside break of 4850 can lead to the testing of 0.382 Fib levels
4850 is an important level, let’s see..
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!






















