Trade ideas
drreaddy on buy sideHello guys i had find this trade in 15m timeframe which is on good trendline support and also broken the pennant pattern we have a good buying opportunity with very small sl and big tg and good RR ratio also plzz do your own analysis before taking any trading decision. if you like my analysis plzz like share and follow thank you god bless you all
📈 Pre-open Chart #PriceAction Analysis by #KRMG (08 Oct)👉 Stock 1- #DRREDDY
👉 Sector - PHARMA
👨🏻🏫 Analysis Timeframes - Hourly and 15 min (Intra)
🎯 Commentary - It has been strongly reversed to downside from 5000 Level and it also showing strength in downward direction and has 4750 Level as its next barrier as Hourly Timeframe
If it breaks and sustain Below the CRITICAL ZONE it may start continuation of Downtrend and has space till 4820 Level
Watch for #PriceAction around important CRITICAL ZONE structural points to plan your trade
🎯 Coming to sectoral pattern - #NiftyPharma is currently showing the downside strength from its ALL TIME HIGH Level
#KRMGPriceAction
#LearnWithKRMG
Dr Reddy long above 5080 Dr Reddy has given a good breakout from 200MA and taken decent support yesterday.
Strong Buying may continue for this month.
BUY ABOVE 5080 ::::SL 4850-4800 :::TARGET 5220++5450++5600++
THIS IS JUST FOR LEARNING BASIC ...
DO TRADE & INVEST IN THE MARKET WITH YOUR OWN RISK.
STAY SAFE::::STAY WEALHTY
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DRREDDY - Inverse Head & ShouldersNote: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be formation of Inverse Head & Shoulders. If the neck line is broken, we can initiate a buy in cash. RSI above 65 indicates bullish momentum. Moreover, the stock has more relative strength as compared to Nifty 50.
SL: ₹4825
Dr. Reddy's Weekly Chart AnalysisDr Reddy's might take a Support near the trend line . Present Volumes is nearing 20 MA breakout.
Bearish Trend only when there is Comfortable Closing below 4200 levels.
Till then go Long and Accumulate on all Dips.
Disclaimer: This chart is for educational purpose. Please consult of your financial advisor before investing.
DREDDYNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading