RDDA trade ideas
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)
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Last Idea @ 26th Dec2020- Dr Reddy- Hanging Man - Top Reversal Candlestick Pattern @ 5200
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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
Drreddy | Bullish Parallel Channel & Falling Wedge 🎯-----------------------🙏🙏NAMASKAR 🙏🙏-----------------------------
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⭕ Day Trading opportunity ! min Chart Alert !!! ⭕
--Buy above =5126 or CMP
--Target = 5594
--Stop-loss = 4926
--Lot Size = 125
--R:R = 2.35
--Expected Profit = 58,000 ₹ per lot ( 9.14% )
--Expected Holding = 10-20 day only
#ThankU For Checking Out Our Content , We Hope U Liked IT 📌
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⭕ Technical Reasons to trade or Strategy applied :- ⭕
1) stock is moving on Bullish parallel channel
2) falling wedge pattern breakout
3) resistance breakout with volume & candlestick pattern
4) multi time frame analysis is bullish
Guys check out the related ideas as well, it will work really well GUARANTEED !
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Drreddy is in bearish modeDrreddy looking bearish after making double top pattern on daily chart. now inside candle break down yet to be happened.
if it break and sustain 5033 then short for easy pips.
target for intraday of 2%.
educational purposes only..
Buy DR ReddysBuy Dr Reddys CMP 5270 Stoploss 5160 Target 5500
Study : Stock is trading near Retesting level of Ascending Triangle Breakout ...Perfect Risk to reward scenario
DRREDDY Levels for 15-JAN-21(Intraday) Buy above 5335 for 15,40,70+++
Sell below 5307 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 Levels for 13-jan-21(Intraday) Buy above 5356 for 15,40,70+++
Sell below 5320 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 |Inverted Head & shoulder Pattern | 🎯⭕ Trading opportunity ! Chart Alert !!! ⭕
--Buy above =5338 or CMP
--Target = 5511.25 | 5847
--Stop-loss = 5162
--Lot Size = 125
--R:R = 2.89
--Expected Profit = 9.53%
--Expected Holding = 1-2 months only
#ThankU For Checking Out Our Content , We Hope U Liked IT 📌
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⭕ Technical Reasons to trade or Strategy applied :- ⭕
1) drreddy has formed inverted head & shoulder Pattern
2) Volume is goood
3) Range breakout as well
Guys check out the related ideas as well, it will work really well GUARANTEED !
🙏FOLLOW for more !
👍LIKE if think is useful !
✍COMMENT Below your view !
