DRREDDY - Long BountyWe have a bounty on Drreddy. PA has broken out of the retest to a larger consolidation which took several years in the making. The larger consolidation is a classic rounding bottom and the retest was a in the form of a time and price wise minor dip to the breakout level. The retest has now broken out and one can go long here or can wait for a better price (chances of missing out the trade) to 4940 or lower levels.
All the best Y'all!
Trade ideas
Dr. Reddy's News Driven Breakout All Set for 5200+ in Short TermTechnical Breakout today on the Charts + News Driven Trigger of the Sputnik V Vaccine today. What else is needed in the Setup?
- 5200 might as well be achieved this week i.e. November expiry, quite a high chance
In addition to Nifty Pharma index is also in Bullish mode, Expecting Dr. Reddy's to see New ATHs soon too!
DR reddy look promising to go LONGDr reddy having strong support around 4650 and showing sign of swing reversal and try to sustain above this level and having hurdle around 5000 breakout of 5000 will definitely lift the stock to 5600.
Initiate buy in Dr reddy for target of 5200 and 5600 with stoploss of 4657.