RDDA trade ideas
Dr Reddy is Ready for Run!5400 Range has acted resistance twice in last 1 year. But now it is showing signs to break out of it and into uncharted territory.
Target can be anything from here 6000+, just need to keep trailing. Will keep on updating
Long Term Stop Loss : 5150
Short Term Stop Loss : 5300
DR REDDY INVERTED HEAD & SHOULDERWAIT FOR ZONE TO BREAKOUT.
AGGRESSIVE TRADER CAN ENTER AT RISING SPPORT LINE. REFER HOURLY tf FOT BETTER CLARITY
DRREDDY Levels for 14-JUN-21(Intraday) Buy above 5475 for 15,40,70+++
Sell below 5435 for 15,40,70+++
Can comment or ping me for any query or live updates
All views for Educational purpose, Trade at your own risk
consolidation breakoutstock is well placed above its 20,50,100 day SMA which supports bullish sentiments
DR REDDY- stock forming in the ascending triangle pattern.
-Stock break and sustain above 5525 Next level to 6300/6700/7200 levels .
-Support is near 5000 level on chart
DRREDDY can give 23% returns 1:6 Risk to Reward ratioI will go LONG on DRREDDY because:
The price is under Support/Resistance zone.
It has touched the support and may reach the resistance zone .
Target would be the Resistance area .
Book profit when it reaches the resistance zone .
Entry - 4426
Target - 5450
Stop loss - 4263
DRREDDY BreakoutDRREDDY breaking out from 9-month consolidation, from falling trendline with rising volumes, RSI also breaking out also CNXPHARMA index breaking above all-time highs.
Can expect immediate targets of 5800/6000.
Dr Reddy's Lab: 50% upsideDate: 13 June 2021
Flag Pattern in Dr Reddy's lab
Approx. 50% upside in the stock in 1.3 Yrs.
HEY ITS A GOOD CHART PATTERN .Hi Everyone its a good pattern have to wait for the rejection then buy or sell it
Drreddy - Nearing ATH - SputnikVConsolidation near the ATH and forming a triangle pattern when the company is dealing with Sputnik makes the price to break and move up.
I am not used to listen to the news and trade accordingly but sometimes I confirm the break with the news.
Breakout from a parallel patternIt's just for study purpose, drreddy brokeout from an important resistance in both daily and weekly time frame, looking good for a healthy upmove. Opinions welcome.
looking good for a target of 6180 in ST. Keep on radar!Disclaimer: NOT SEBI registered. Charts produced here are for personal reference only.
Dr Reddy - Flan and Pole Brekout (Bullish Breakout) # Dr. Reddy has given a Consolidation Breakout
# As per Technical Analysis this is Called as a Flag and Pole Breakout. This is a perfect Text Book Breakout in Price and as well as on RSI with More than Avg Volume.
# Long Positions can be created for Target of Flag.
# Buy Dr Reddy {Cash Levels} 5380-5450 for Target = 5680-5740 with SL = 5200
