Dr reddies , looking good till it hold 4290, taking support Dr reddies , looking good till it hold 4290, taking support 50 weekly sma , previous weekly support , after nice fall , good risk:reward ratio
Trade ideas
#drreddy Dip is a buy opportunityScrip Name - Dr reddy Labs
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Techincal Analysis:
1. Formed double bottom at the important support.
2. Decisive breakout from the trend line resistance.
3. My small understanding towards market structure and price action.
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How to trade:
1. Buy at dips if risk reward is favorable with Stop loss 4390.
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2. If dips and sustains above recent high above 4590 then go long with SL recent low.
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3. If dips and forms a bullish structure in lower TF i.e. in 15 min, then buy with the SL of the low of the structure.
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Targets
TP1 - 4700
TP2 - 4850
TP3 (POSITIONAL) - 5440
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If you do like my ideas then give a like, comment and follow me to keep me motivated.
Cheers and happy trading!
Regards,
Sharma Yogesh
Reason to Buy Dr. Reddy’s 1. Positive divergence in rsi
2. Double bottom in hourly chart.
3 . Candle Breakout
4. Huge volume candles @ double bottom
Enter @ current mkt price with SL of 4320
Tgt 150 point
Watchout for Resistance breakoutThe stock gave a trendline BO today and looks good for upmove above 4593.55 level.
dr reddy looks to be range bounddr reddy has broken from descending triangle. looks like its going to be rangebound.
one could go long with the target 4660,4900 with the stop 4390
Double bottom Pattern both in hour chart and daily in DRREDDY.Wait for the breakout 4651 level but aggressive trader can go long for the current price.
DR REDDY TRENDLINE BREAKOUT, ENTER IF BREAKS WITH HEAVY VOLUME VERY GOOD RISK REWARD AND OVERALL VERY GOOD FUNDAMENTAL COMPANY. RSI ALSO SHOWING POSITIVE DIVERGENCE.
DR.REDDY is ready for a breakout...Heavy volumes are seen and you can clearly see a DIVERGENCE in RSI.
might see dip tomorrow.
but i feel as the market is up no one is going to take a risk & its a breakout tomorrow
if breaks its 1st target is going to be 4780.
buy a call in the price and Relax. and of course put a stoploss.
All the best ;)
Dr Reddy's expected upside moveDr Reddy's at supply zone and could further lead to formation of W pattern.
DrReddy Intraday - Support Break viewDrReddy : Intraday View
Can Break support
Short below 4380 with a SL 4400
DRREDDY chart analysisPositional Trade:
DRREDDY:
Short below the support and buy above the resistance and wait for the target.
-Mohit Rajani
SellSell with sl of 4730 for target of 4160-4040.
Can sell call of 4700-4800 SP.
Disc : it's not an investment advice to buy or sell
DREDDYdouble bottom indication with less risk and high reward
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
Dr Reddys - Vaccine PlayShared this idea in the past and now took a trade at 4490. The vaccine news is just around the corner and with targets to launch the vaccine around 1st March to the people of India emergency approval should be quick too..
There is a positive divergence on the daily chart and once the stock stays above its 200EMA which is around 4470 many good things will happen in this stock
Long at CMP with SL below 4350.
