Trade ideas
BUY DR REDDYS LABSAccording to chart analysis we got the one opportunity to buy this stocks if it breakout @5000 with increasing volume then buy it for target 6000++.
According to fundamental its very very good stocks for investing in coming days.
(Very HIGH Convication) Chart is very bullish form now.
BUY @5000 or above
TARGET 6000+++
Note: This is short terms target.
Short #DRREDDY looks so week in daily. Expected a target 4000. short term sell below : 4630
target @ 4050
stoploss above 4780
last 14 months this stock is trading in between a strong supply and demand zone. excepting a previous level of support 4050 to 4000 in a couple of weeks. current global cues are in negative mode.
Swing Opportunity in DR Reddys LabsGo Long above 4699.1 for Targets of 4861.2, 5023.3, and 5185.4 with SL 4537
Reasons to go Long :
1. On a daily 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 around 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.618 Fibonacci level.
3. In addition to this there is a strong trendline (marked with green color), which is providing support to the stock.
4. There is a trendline (marked with green color), which is providing resistance to the stock so we have placed our final target just below it.
DR IS HEADING TOWARDS ICUEverything on the chart. This is my view & I change view faster than mkt!! I will suggest waiting for some sort of bounce towards the TL. However, that may change if I find something otherwise. NOTE- View is personal & not a trading recommendation- Pl do your own study/analysis before taking decision.
💊 #Dr.Reddy Heading towards Harmonic PRZNSE:DRREDDY
as one can see Dr. Reddy's share heading towards harmonic PRZ., so here if you find reversal at PRZ then only go for swing trade.
******whatever charts or levels sharing here are just for educational purpose only, not a recommendation. Please do your own analysis before taking any trade on them. We are not SEBI registered.
Simple Trade Setup | DRREDDY | 26-10-2021 [ INTRADAY]NSE:DRREDDY
Observations:
1) On 1 Day time frame, After Friday's doji candle/spinning top candle, today it made hammer pattern.
Also it has been taking support and closing above 400DMA which is very very major support for any stock.
Only negative thing is that volume was lower than Friday.
Please refer below chart : 1day Time Frame.
Immediate resistance is at 4700 level
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All the levels and most of the trade setup still remains the same as per previous.
Trade Setup for Date 26-10-2021:
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.