Trade ideas
Dr. Reddy's : Triangle Pattern Formation in Demand ZonesDr. Reddy's stock is currently forming a descending triangle pattern on the 2-hour, 4-hour, and daily demand Zones. This pattern and its positioning within demand zones are crucial for potential future movements.
Key Observations:
Triangle Pattern : The stock is creating a descending triangle pattern, characterized by a series of lower highs and a horizontal support level. This pattern often precedes a breakout or breakdown, depending on the direction of the price action.
Demand Zones: The triangle pattern is developing within established demand zones on all three time frames. These zones are areas where buying interest has been strong in the past, which may influence the pattern's outcome on the upside.
Implications:
Potential Breakout : Watch for a breakout above the upper trendline signaling the start of a new trend.
Support Levels: The demand zones within the triangle may act as crucial support levels. A bounce from these levels could lead to a trend reversal.
Key Levels:
Demand Zones:
Daily:
4Hour:
2Hour:
Pattern:
Lets monitor the price action closely as the stock approaches the apex of the triangle pattern for potential trading opportunities when it breaks out
DRREDDYEntry 6806 Above Close
SL 7657 (50 Points)
Target 1:5 and 1:10
SL 1Hr candle close only, Target Trigger Price
All detail for chat. good entry at mark price only. and must stoploss minimum risk and good profit. risk ratio 1:1 to manage modified SL. This is not call, Just my idea. Please understand your risk and take full responsibility of your actions
DRREDDY - PRICE REENTERING RISING WEDGE CHANNELHi All,
This idea is about Dr Reddys Lab
Fundamentals
Mkt Cap - 106810 Cr
Stock PE - 19.2
ROE - 21%
ROCE - 27%
Mkt Cap/Sales - 3.8
OPM - 28%
Technicals
Price was pushed back to follow the rising wedge pattern & if it sustains above the marked (white line) resistance, can further show an upside of 8-10% to reach the upper channel of rising wedge
Happy Trading,
Thanks,
Stock-n-Shine
AB=CD HARMONIC REVERSAL IN DR REDDYThis price is falling from the reversal zone and also you may see the reversal confirmation i.e bearish candle formed and closed below the reversal zone. This confirms that the price is ready for the further correction. If the weekly candle is closed above the reversal zone, we can alter this next pattern. This is for educational purposes only.
Dr reddy bullish tgt 6700-6880-6950 28/04/24Dr reddy tool Support at major Support level of 5860 and bounced back
Volume rising
ABCD Pattern under formation on weekly chart
SL below 5800
lets see how these evolve
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
DRREDDY is ready for fireIn today's trading session, the price has given a breakout of a falling trendline and flag and pole pattern. The price is trading above 14 EMA. MACD is turning positive.
Keep a close watch.
Disclaimer- I am not a SEBI registered technical analyst and adviser. Kindly trade on your risk.
Get ready for a price surge with Dr Reddy & TTK Prestige!DRREDDY
After the market crash in March 2020, the stock began a steady upward movement and formed a Bullish Pennant pattern.
After breaking out, the price surged and encountered resistance multiple times near the 5,550 level.
Consequently, the stock price experienced a significant drop and entered a prolonged consolidation phase.
During this phase, an Inverted Head & Shoulders pattern emerged on the chart.
Most recently, a breakout has occurred, causing the stock to move higher.
TTKPRESTIG
The stock price has developed a Head & Shoulder pattern on the weekly chart.
After the pattern breakdown, the price underwent a significant consolidation period and created a Double Bottom pattern, suggesting a potential reversal in the trend.
By breaking above the pattern's neckline, the price is now moving upwards with a substantial potential for gains.
Dr. Reddy's Laboratories Limited - Long Setup, Move is ON...#DRREDDY trading above Resistance of 5967
Next Resistance is at 6474
Support is at 5390
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
DRREDDY MOMENTUM UNDER RADARDr. Reddy's Laboratories Ltd. is an interesting stock to keep on radar
1. RSI on all time frames above 60
2. High Trade and Delivery Quantity during week
3. Increasing relative Strength - Bench Mark index
4. Increasing relative Strength - Sectoral index
5. 20 SMA Crossing 50 SMA from below recently
6. Stock outperforming sectoral index both 1 week and 3 months
7. Big Green Marubozu Candle with high volume on weekly chart
8. Price walking on Upper Bollinger band on daily chart
9. Price crossed above 20 Week SMA during last week
Major Support 6000-6130 zone Next Resistances near 6500 - 6853 zone
Keep on Radar and Lets See How it evolves
Caution : Pharma Shares are subject to volatility on unexpected US FDA restrictions and observations
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.