Trade ideas
Dr Reddy's - Monthly chartAfter seeing a strong breakout with lifetime high volumes in September, the stock was consolidating a bit for 3 months followed by a retracement in January.
In Feb it took monthly support at 4380 and bounced back strongly.
I personally expect this stock to outperform its peers in the upcoming months.
High of Good volume candle is 5512.
So my gut feeling is, it will take a month or two to reach those levels & then fly high on a monthly close above 5500.
Positional view target : 10000+
DRREDDY - AnalysisThe ferocity of 1st of the 5th suggests that retracement for 2nd would complete at 0.38 and hence should end at sub 5000 levels. Overall, the 5th seems to be ending at 6700+ levels.
Disclaimer - This analysis is for you (the reader) to critique and point out errors in judgement, and in the process, making us both learn more.
Dr Reddy Short Term Trading Set up 2The Price has been facing resisitance from 200 EMA . The structure is already provided for reference along with S&R LEVELS. Expecting 5240
The Indicator Used:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame Charts. Not Activated.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
3) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV , hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!!
How to Do Swing trading in DRREDDY ✺----------------Drop a follow here: @Averoy_Apoorv_Analysis ✺
Chart Type: Self Explanatory
✺--------------------------- Motivational and psychological area ✺
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions, and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good peoples, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
✺------------------------------------ Some info-------------------------- ✺
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
<<<<<< Thank You Have a Nice Trading Day >>>>>>
DR REDDY LABSooks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
Check these Upcoming ideas - STILL ACTIVE
Check these successful trades & approach on Britannia , Mothersonsumi , DLF , Biocon , Daawat , Infosys , HBL power , HDFC life , Hind ZINC given below
If you like my analysis do like & follow me as a token of appreciation. If you have any queries on any stock let me know.
Leave a comment that is helpful or encouraging. Let's master the markets together
DRREDDY 4H, DRREDDDY LABS - Dropped from the price and came back to the Original price it has given a breakout with a good volume and came out of its consolidation zone ,currently it is near its 52 week high.A good upmove is intact in DRREDDY LABS. Looking a good stock to participate in Bull rally in coming days.