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Dr. Reddy's Laboratories Ltd. Sponsored ADRDr. Reddy's Laboratories Ltd. Sponsored ADRDr. Reddy's Laboratories Ltd. Sponsored ADR

Dr. Reddy's Laboratories Ltd. Sponsored ADR

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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.
NSE:DRREDDYLong
by purisonshuf
Ready For Liftoff! Big Volume Spike Before Strong Breakout ✅The stock is showing signs of breaking out after forming a descending triangle, signaling a strong upward move. ✅ Strong support around 5500 levels due to the trendline. The breakout above the resistance around 6400 suggests a potential move towards 7000+ levels. ✅RSI is at 65showing strong bullish momentum. MACD histogram is positive, supporting the breakout with bullish signals. ✅Huge volume spike confirms strong buying interest and bullish sentiment, supporting the breakout scenario. ✅The company has shown steady revenue growth and strong profit margins. Its solid balance sheet and effective cost management contribute to financial stability. ✅A leading player in the pharmaceutical industry, the company has a strong presence in the global market. Continuous innovation and expansion provide a competitive edge.
NSE:DRREDDYLong
by Marketik
Bullish Breakout: Dr. Reddy's Laboratories Flag PatternDetails: Asset: Dr. Reddy's Laboratories Ltd (DRREDDY) Breakout Level: Above 6200 Potential Target: 6500 and beyond Stop Loss: Below breakout level or as per risk tolerance Timeframe: Short to medium-term Rationale: Dr. Reddy's Laboratories Ltd (DRREDDY) is showing signs of a potential breakout above the 6200 level, which is accompanied by a flag pattern formation. A breakout above this level could indicate a bullish sentiment shift and pave the way for further upside momentum, with a target potential of 6500 or higher. Market Analysis: Technical Breakout: Breaking out of the flag pattern above 6200 suggests a technical breakout, potentially attracting buying interest and driving the price higher. Market Sentiment: Positive market sentiment or company-specific factors may be contributing to the anticipated breakout in DRREDDY. Price Target: The target for DRREDDY is set at 6500 and beyond, based on the breakout from the flag pattern. Risk Management: Implementing a stop loss strategy below the breakout level is essential to manage risk in case of unexpected price reversals. Timeframe: The projected upside move for DRREDDY is based on a short to medium-term outlook, but actual timing may vary based on market dynamics. Risk-Reward Ratio: Consider individual risk tolerance and adjust position size accordingly to maintain a favorable risk-reward ratio. As with any investment opportunity, conduct thorough analysis and consider factors such as market trends, company fundamentals, and risk management strategies before making trading decisions.
NSE:DRREDDYLong
by CyborgTradingHub
DRREDDY - LongGrandfather, Father & Son Strategy RSI above 60 for Grandfather (Monthly time-frame) & Father (Weekly time-frame) RSI taking support on 40 for Son (Daily time-frame) Support of Hammer on 20 March 2024 didn't break. (Entry) Hammer Confirmation (Weekly) Above 6211 (Proper SL) SL will be low of hammer (Weekly) below 6034 (Lower SL) If the SL is too much you can use the SL of BeltHold Candlestick on Daily 28 March -- 6078 (Profit Level 1) 6342 (Profit Level 2) 6450
NSE:DRREDDYLong
by meharsidhu
1
DRREDDY | Swing Trade📊 DETAILS Sector: Pharmaceuticals & Drugs Mkt Cap: 100,744 cr Dr. Reddy's Laboratories Ltd is a leading India-based pharamceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations. TTM PE : 19.27 (Low PE) Sector PE : 52.24 Beta : 0.54 📚 INSIGHTS Strong Performer Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation 1.79% away from 52 week high Outperformer - Dr Reddys Laboratories up by 1.9% v/s NIFTY 50 up by 0.87% in last 1 month 📈 FINANCIALS Piotroski Score of 8/9 indicates Strong Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:DRREDDYLong
by Munish_Jain