RDDA trade ideas
DRREDDY Levels for 12-NOV-20(Intraday) Buy above 4900 for 15,40,70++
Sell below 4865 for 15,40,70++
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LONG DRREADYDRREADY IS IN BULLISH WOLFE WAVE CMP 4735 FOR 4958/5110/5320/5475 VIEW INVALID BELOW 4550
Trading the results coupled with technical analysisEver since the breakout in DrReddy, the stock has been consolidating for quite a long time now.
It has been trading in a range since 18 Sep. Consolidation is is confirmed by the lower volumes after the breakout.
Q2 results are above expectations. I am hoping a breakout tomorrow.
Also, I've been waiting for the stock to come close to the trendline. This is the perfect time to enter.
DRREDDY Levels for 11-N0V-20(Intraday) Buy above 4715 for 15,40,70++
Sell below 4690 for 15,40,70++
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DR REDDY LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
STOCK HAS EARLIER TAKEN SUPPORT FROM 50 DAILY EMA BUT IT WAS NOT ABLE TO MAKE HIGHER HIGH
The indicator used:
1) Daily Lines plots Daily 20 & 50 EMA on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!
Dr Reddy LongBuy after 1 week. let the price correct bit more buy 2 or 3%.
Buy @ 4850
with target of 25% return in a month or two month.
Reason:
1. Support at 50 EMA
2. Trendline support (Demand zone)
3. Results are better than expected.
DRREDDY Levels for 06-NOV-20(Intraday) Buy above 4975 for 15,40,70++
Sell below 4940 for 15,40,70++
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All views for Educational purpose, Trade at your own risk
NSE:DRREDDYDISCLAIMER : . I am not a SEBI Registered analyst.
All chart analysis I publish are educational and information purposes only
DRREDDY Levels for 03-NOV-20(Intraday) Buy above 4870 for 15,40,70++
Sell below 4830 for 15,40,70++
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All views for Educational purpose, Trade at your own risk
DRREDDY Levels for 02-NOV-20(Intraday) Buy above 4901 for 15,40,70++
Sell below 4870 for 15,40,70++
Can comment or ping me for any query
All views for Educational purpose, Trade at your own risk
DRREDDY HEADING NORTHDrrreddy is moving towards 5185, 5282, 5397. A pullback and a confirmation can be usefull to make a better R:R
Regards
