Dr Reddy moving in channel | Favourable R2RPrice moving in channel; at support now. Can enter trade.
buy at 6583
SL 6448
Target ATH - 7076
Upside: 7076/6583 = 7.5%
Downside = (6583-6448)/6583 = 2%
Risk to reward : 3.7
Just an idea
Trade ideas
Drreddy is now ready for 7200-7500DrReddy was holding well today and I think it has recovered good from bottom.
I think stock is now ready to make new high of 7000, 7200 then 7500 by Nov end.
Keep SL below the horizontal line marked.
Dr Reddy Cmp 6750 Trendline BODr Reddy Cmp 6750 dated 27-9-2024
1.Trendline BO @ 6750
2. RSI BO
Buy above 6760 target 6800-6850-6900-6950-7025 SL 6650
It is just a view, please trade at your own risk.
Drreddy Lab impulse upMoving in impulse wave up...
of which wave 1 and 2 completed
and wave 3 has started..
downside support 6250--6100
upside potentials 6500--6800 (1.618 fib level 6812)
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.
DRREDDY 2 Weeks Target coming 7300+ based on hourly charts.DRREDDY 2 Weeks Target coming 7300+ based on hourly charts.
LTP - 7079
Targets - 7300+
SL - 6975
Risk Reward Ratio - 1:2
Happy Investing.
Dr Reddy SL day 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
Dr Reddy Date 19.08.2024
Dr Reddy's Laboratories Ltd
Timeframe : Day chart
Remarks :
If breakout out 161% extension of ascending broadening then high momentum breakout
If breakdown base of ascending broadening triangle pattern then high momentum breakdown
Regards,
Ankur
DRREDDY LAP TARGET 7342 STOPLOSS 6963Weekly and day strong resistance of 6963 breakout and weekly closing above that. If sustains above 6963 it will reach the target of 7342
Dr.Readdy Weekly Breckout good looking stockj buy on every dip and be strong investor..
Dr.Readdy buy above 7000
target 7100,7200,7400
Stoploss 6950
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.
dr reddy cup and handle and support and resistant viewcup and candle pattern formed in weekly chart following 4 years of consolidation
6500 is near resistant trend line
6222 is the near support line
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 IS A BUY NOWDr. Reddy's is currently in an uptrend, retracing to its previous high. It's advisable to buy at every dip as the targets are set quite high.
DR REDDYSI Observed these Levels based on price action and Demand & Supply which is My Own Concept Called "PENDAM CONCEPTS" ... Please Don't Take any trades based on this chart/Post...because this chart is for educational purpose only not for Buy or Sell Recommendation.. Thank Q
DRREDDY Hourly Chart suggest 5% upside in 5-10 daysDRREDDY Hourly Chart suggest 5% upside in 5-10 days ... Targets 6000+
Happy Investing.
DRREDDY Dr reddy's lab is making a cup and handle formation in the chart, if its breakout is confirmed at level 6125 after the breakout we will take entry after it is retested there are 1st target is 6400 and 2nd one is 6500
