Trade ideas
Inverse Head & Shoulder - Right Shoulder on the WayPositional & Investment Pick !!
Please also go through my post dated 29th May related to Dr. Reddy, the link has been attached herewith. It was clearly suggested that there may be correction towards 4400 levels. It took time but eventually it did correct.
4400 levels almost was tested and it bounced back from support around 4440 levels. Expecting Right Shoulder to complete now.
Keep Accumulating for targets suggested on charts.
[Positional] DrReddy Swing Buy BetNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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Dr Reddys Bullish DivergenceDr Reddy's is showing a Bullish Divergence on Daily Time Frame.
Breakout levels are marked in Yellow for Long and Short.
The Stock may go up by 7% from the current levels.
Recently Dr Reddy's has also had a definitive Agreement with Citius Pharma for the sale of its entire right of investigational anti-cancer agent and some related assets.
Under the terms of the agreement, Dr Reddy's will receive US$40 Million Upfront upon closing of the transaction.
Breakout level 5000 if sustained for more than 1 hr will take the stock up till Target 1 - 5147 Target 2 - 5300 or may also test all time High or above.
Levels for - 06 Sep 2021EXPLANATION : This is a 15 Min time frame chart of DRREDDY . The stock has formed a Ascending Triangle Pattern , I will look to go long if it gives a good breakout of its supply zone and continue the upward rally . I am not comfortable in shorting unless it breaks its trendline with volumes. Entry as per your entry setup .
Positional view of Dr reddy labI am sharing actionable view of drreddy lab that can be archiveable target in a week...
Target:-5300-5350 it depends on you how much u can handle (# it is strong resistance in market)
Stop loss- 4862
Entry:- it depends on retesting of market i have
shared a pic u can see there
NOTE:- dont enter before retesting or confirmation of market\\\\ Remember that market is supreme
Respect market if u respect then market will respect💹💹💹
Ek chiz Dhyan me rakhna dosto agar market breakout dene ke badd retest kare or price action banaye jabb hi enter karna or aap ek week tak hold kar sakte hai market ke hisab se target ek hafte me archive hojana cahiye PLEASE DON'T DO ANY THING BEFORE CONFIRMATION
DRREDDY, Medium risky "Trading setup"....By The_RedTickerMakes sense to me...been falling a lot, slowing losing strength.
As such, not a bad stock, makes it worthy of being bought after such a dip.
Its also at an investment level, but I am unable to generate longer duration view so will aim to trade just the chart for now and rethink if it gets into significant profits.
*NOT AN IMMEDIATE BUY, entry level is mentioned on chart. Also, it should be a closing level entry and a closing basis SL.
TF for this setup is DAILY.
#The_RedTicker....