Trade ideas
DRREDDY is ready to ride. Stock is all set to break its resistance level. It was consolidating in a uptrend rectangular pattern for more than one year, It has given a decent green closing for the week. It seems more likely to give a breakout. We have to wait till it breaks its resistance. On the other side NIFTY has reached at its all time high (ATH) level. So, it might fell down going forward. If Nifty closes with a good green candle on Monday, we are good to go in this.
Dr. Reddy's Laboratories Limited - Long Setup, Move is ON...#DRREDDY trading above Resistance of 5191
Next Resistance is at 5614
Support is at 4865
Here are previous charts:
Chart is self explanatory. Entry, Resistances and Support are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
DRREDDY 1HRINTRADAY TRADE
DRREDDY LABS Looking good for upside..
When it break level 5190 and sustain.. it will go upside...
BUY@ 5190
Target
1st 5215
2nd 5244
DRREDDY JUL FUT – 8 LOT (Qty-1000)
TRADERS ALSO DO SWING TRADE FOR LONG TARGET
Enjoy trading traders.. Keep add this STOCK in your watch list..
Investor are welcome..
DrREDDYENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
Hanging ManA hanging man candlestick occurs during an uptrend and warns that prices may start falling. The candle is composed of a small real body, a long lower shadow, and little or no upper shadow. The hanging man shows that selling interest is starting to increase. In order for the pattern to be valid, the candle following the hanging man must see the price of the asset decline.
Script = Dr Reddy
Time Frame = 1 Day
DRREDDY For 12%(approx..) Gain DR REDDYS LABS making a symmetrical triangle breakout and may give a profit of 12% and above.
One can wait for Volume as well as weekly closing on chart
CMP : 4650
TG : 5200
SL : Below 20 EMA
Disclaimer : It is my personal view as a trader and for educational purpose only. Equity market involves risk . Please consult your financial adviser before taking any decision.
Potential Upside Breakout: Consider Dr. Reddy's StockDr. Reddy's Laboratories, a prominent pharmaceutical company, has been showing signs of a positive breakout in recent trading sessions. As always, prudent investors should conduct their own research, but here's why Dr. Reddy's stock deserves consideration as it potentially breaks out to the upside.
From a technical standpoint, the stock's recent upside breakout from a trading channel suggests a potential upward trend.
However, remember that technical analysis should be considered alongside other factors and not relied upon in isolation.
DR REDDY - Sideways to bearishStock is in ongoing impulse on a major timeframe.
In the short term, it is in an ongoing correction.
In the very short term, the Stock is in the B wave, a breakdown of the recent swing low with good volumes can ensure start of the C wave.
A negative divergence of RSI can be observed in the recent upmove.
Due to Ongoing Flat correction(3-3-5), the rule of equality will hold for A=C. The length of C downward will be at least the length of A.
DRREDDY - Intraday Trade || 31st May, 2023 #stocks Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 31st May, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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DISCLAIMER:
.
* Please do your own research and/or contact your financial advisor before taking any trading opportunities
** We will not be responsible for your profit or loss
*** We are NOT SEBI REGISTERED
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