DR REDDY GAP DOWN IN 3rd WAVEwe clearly see GAP DOWN in 3rd wave of the 5 waves of the C wave. What does this indicates? A fall to complete the 3rd wave was quick. we are done with 3rd wave and in the process to complete the 4th wave.
Possibilities:
*) Downward it can go to 1148-1160 to complete the 5th wave.
*) It may close the 3rd wave Gap before resuming its downward Journey to complete the 4th wave. (Less Probability)
In Either case I would prefer not to enter any new position and wait for the right opportunity.
Disclaimer: I am not SEBI registered Member. This is Strictly for educational purpose only.
Trade ideas
Dr. Reddy's: Cypher Pattern and Support Level AnalysisDr. Reddy's Laboratories has formed a cypher pattern and is finding support around the ₹1200 level, after a recent 15% fall. Dr. Reddy's shares are trading at ₹1250.20, reflecting a 1.85% change for the day1. The company exhibits low volatility compared to the market, with a six-month beta of 0.2055
DR Reddy's - Two Possible ScenarioCurrently Stock in mild down trend to sideways
Area 1310 - 1330 become crucial
Any close above 1330 will take the stock back to 1400 & higher
Any close below 1310 will make it bearish for quite some time
Then it will give an opportunity to sell on pull back
Downside targets of 1270 & 1250 may follow
Will wait for close in both the scenario
Resilient Sector Stock and breakout of important resistance Rational:
1. Pharma sector is one of the resilient sector in current market fall.
2. Returning to this price level after 2 months. For the third time at this level and trying to breach the level for last 3 days.
3. Entry at the breakout of this level with SL of around 4.4%. Entry : 1370; SL: 1310; Target: Trail as per 9 EMA.
Dr. Reddy's Laboratories LtdThe daily chart of Dr. Reddy's Laboratories Ltd (DRREDDY) on the NSE indicates a bullish setup, with the price trading above the 50-day SMA (1268.29), 200-day SMA (1275.84), and 21-day EMA (1261.02). A downward trendline highlights resistance near 1368, while an upward trendline indicates accumulation with higher lows. The RSI at 69.74 suggests strong momentum, and the MACD shows a bullish crossover, confirming upward momentum. Aggressive traders can consider entering on a breakout above 1368, targeting 1450–1500, with a stop-loss below 1330. Conservative traders may wait for a pullback to the 1275–1285 support zone (near the 200-day SMA) or the upward trendline around 1300–1310, targeting 1380–1420, with a stop-loss below 1270. Volume is rising, supporting the recent price action.
DR. REDDY Strong Candle FormationNSE:DRREDDY made a strong candle today Crossing Key Levels with volumes and closing above 100 DEMA.
MACD Still Showing a BUY Signal, I have drawn support and resistance levels. If it breaks the resistance level it Will Cross ATM. Small Quantity can be added at the current Level for a Swing.
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Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
Dr Reddys Laboratories Ltd view for Intraday 17th Dec #DRREDDY
Dr Reddys Laboratories Ltd view for Intraday 17th Dec #DRREDDY
Resistance 1280 Watching above 1283 for upside movement..
. Support area 1250 Below 1265 ignoring upside momentum for intraday
Support 1250 Watching below 1247 or downside movement...
Resistance area 1280
Above 1265 ignoring downside move for intraday
Charts for Educational purposes only.
Please follow strict stop loss and risk reward if you follow the level.
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The directional V shaped signal Dr Reddy CMP 1246
Fib Analysis- I have done fib analysis on the three major swings in this counter. The first swing correction halted at 61.8%. this was an indication that the bull trend was weakening.
The second swing correction halted at 50% taken from top and bottom. this was an indication that the stock was not expanding.
The 3rd swing correction halted at 38.2% the grid forming from top and bottom of the swing.
This swing has something more it is a directional signal which is an inverted V.
Hence to me the uptrend is over. Since the stock has halted at support we will witness a rally, but this rally will the last opportunity to exit this counter.
Drreddys bullish VIEW
Drreddys bullish VIEW
Dr reddy is on Trendline ,Target will be in coming days
Targets: Greenline
T1: 1240
T2: 1250
T3: 1260
Imp. Note: This analysis is provided for informational purposes only and does not constitute a direct recommendation to buy or sell stocks. Investors should conduct their own research and consult with financial advisors before making any investment decisions, as market conditions and individual circumstances may vary.
Market Risk: However, it's important to acknowledge the inherent risks
Dr Reddy parallel channel view- ascending parallel channel
- touched the bottom line
- may consider when the reversal candle is form
- during market correction this stock reached the fib retracement 61.8 at the level of 1235 from its all-time heigh.
This analysis is my own idea.
I don't recommend taking trade based on this idea.
consult your SEBI registered adviser to Know the market risk before trade.
in.tradingview.com
Dr Reddy is Ready to fly in blue sky, Short term Trading Idea .I hope you all will be doing good in your life and your trading as well. I have brought a stock which has formed a pull back pattern and taken support at previous breakout zone. Stock name is Dr. Reddy's Laboratories Ltd and it is a leading India-based pharmaceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations.
Stock is good for short term trading idea as it has taken support in the previous breakout zone. Stock is good for long term investing as well. This can be best SIP stock to invest and get handsome returns in future.
Market Cap
₹ 1,09,439 Cr.
Current Price
₹ 1,312
High / Low
₹ 1,421 / 1,041
Stock P/E
19.7
Book Value
₹ 339
Dividend Yield
0.61 %
ROCE
26.5 %
ROE
21.4 %
Face Value
₹ 1.00
Industry PE
34.5
Debt
₹ 2,002 Cr.
EPS
₹ 66.7
Promoter holding
26.6 %
Intrinsic Value
₹ 1,033
Pledged percentage
0.00 %
EVEBITDA
12.3
Change in Prom Hold
-0.01 %
Profit Var 5Yrs
24.4 %
Sales growth 5Years
12.6 %
Return over 5years
18.9 %
Debt to equity
0.07
Net profit
₹ 5,565 Cr.
ROE 5Yr
16.7 %
Profit growth
17.8 %
Earnings yield
6.77 %
PEG Ratio
0.81
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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DRREDDY 3rd of 5th underwayDRREDDY CMP 6715 TF 75 minutes..
The stock as moved well from June 2024 lows.. Currently 5th wave up is in progress, and it seem to have completed 1 and 2 of 5th.. third underway.. Wave 5 targets are 7035 (Wave 1 = wave 5) and extended target is placed at 7400.. either case, we have a decent 200-300 points upmove on the cards on this script