RDDA trade ideas
DrReddy -Taking Rest Triangular Pill Hope you enjoyed 4470 to 4700+ move as per last idea published
DrReddy taking rest with Triangular Pill
Plan A
Buy Close to 4600 in 4615-4630 zone (Avoid Buying if falls below 4600) -Expect Target - 4760 / Above 4760 for 4875-4900
Plan B
Sell from the tops if halts or stops in 4875-4900 zone (Avoid Selling if crosses above 4900) -Expect Target Downside 4625 & below 4600 for 4300-4350
DRREDDY Levels for 04-FEB-21(Intraday) Buy above 4685 for 15,40,70+++
Sell below 4635 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
DrReddy - What A Fall 5400 to 4400- What Next?As per last update suggested an hour back on previous idea mentioned below (DrReddy- Dramatic Selling from 5400)- avoid selling if stock holds or crosses back above 4400
--------------------------------------------------------------------------------------------------------------------------
Trade active: 12:06 Hrs / 2nd Feb2021
Last @ 4406
Avoid sell if it holds or crosses above 4400 as later crossing above 4470 - upside Reddy will get ready for 4650-4700 target zone
Sell only below 4400 as suggested earlier.
Thanks
---------------------------------------------------------------------------------------------------------------------------
Next Buy
Only Above 4670 (For Safe Traders) - Next Up move may start for targets 4650-4700 zone
----------------------------------------------------------------------------------------------------------------------------
Last Idea - DrReddy- Dramatic Selling From The Tops 5400
----------------------------------------------------------------------------------------------------------------------------
Dr reedy looks bullishDr reddy is getting supprt from monthly pivot line, so it might bounce from there.
#positional
Buy Dr reddy at 4482
Tgt: 4910, 5440, 6000+
Sl: 4150
Timeframe: 3-4 months
Is DrReddy going towards 3850?The stock has formed the double top (M) pattern and given the confirmation too, I am expecting the retest of the black line and then fall towards the highlighted targets.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
DRREDDY Levels for 02-FEB-21(Intraday) Buy above 4445 for 15,40,70+++
Sell below 4390 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
📊 Dr.Reddy 🎯NSE:DRREDDY
go only if one can find reversal at PRZ.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
DRL: BreakdownDouble Top Breakdown and decisive move below 200 SMA seen. If it sustains below then a move to INR 3,800 can't be ruled out
Double Top Pattern* A double top is a strong bearish reversal pattern. It occurs when an uptrend fails to make a higher
high and instead, makes an equal (or near equal) high.
* The psychology behind the pattern is that the failure to make a higher high could be an early sign
that the momentum is leaving the uptrend. The equal high is an indication that the previous high
is being tested and confirmed as resistance. All this means that a reversal is likely to happen.
* As you can see from the image above, two horizontal lines are drawn off the double top. The top
line is the resistance line. The second line marks as support line where you can enter in trade after breakdown.
*To get your profit target for this pattern, you measure from the resistance line to the breakout
line. Then you take that measurement.
Kindly Let me know if you have any Questions.
Thank you .
DrReddy- Dramatic Reversal- Selling the Tops@5400Ending Diagonal / Truncation / Extension all have the same message loud & clear - "Dramatic Reversal"
Snapshot Taken on 11th Jan2021- Structure Finishes or Possible Finish with Ending Diagonal/Wedge- What Next? - A Dramatic Reversal
Warning Suggested @ 10th Jan2021 - Be Careful At The Tops
Updated & warned on the last idea @ 10th Jan2021, when stock started falling back below 5225 / 5200 -which was key zone for the stock
Running close to 1st target - 4700
Candlestick Patterns confirming the bearish outlook at the tops
Hanging Man
Shooting Star
Evening Star ( Possible Candlestick as it is running currently)
----------------------------------------------------------------------------------------------------------------------------
Last Idea @ 26th Dec2020- Dr Reddy- Hanging Man - Top Reversal Candlestick Pattern @ 5200
----------------------------------------------------------------------------------------------------------------------------
Dr Reddy - 2H Timeframe analysislooking weak on higher timeframes
might give us an intraday shorting opporutnity
DRREDDY GOOD LONG CANDIDATEDRREDDY spot cmp 4994
Good long candidate ,, counter is trading at support levels of demand line and horizontal support line ,, in last swing counter is making bullish divergence in RSI indicator ,, go long at current levels with stoploss of 1% in 15min candle closing basis..
DRREDDY Levels for 27-jan-21(Intraday) Buy above 5090 for 15,40,70+++
Sell below 5035 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
