RDDA trade ideas
Short Term Trade Idea Buy (DRREDDY)
Health Care
Pharmaceuticals
Largecap
With a market cap of ₹73,055 cr, stock is ranked 73
Stock has been generating better return on equity than bank FD
Stock doesn't offer attractive dividend returns
Good time to consider, as stock is not in overbought zone
Stock not in ASM/GSM lists and not a lot of promoter holding is pledged
Disclaimer : I am not a SEBI Registered Research Analyst so before your Investment Please Consult you Financial adviser.
Dr. Reddy's Laboratories Ltd_BullishDr. Reddy's Laboratories Limited is in an ascending triangle pattern on the weekly chart. Awaiting breakout confirmation, pay attention. If the price sustains above 4510, it will move higher. Refer upcoming targets.
Dr Reddy breakoutBroken out of triangle pattern looks good for a long position Target around 4900-5000
DRREDDYDRREDDY:- stock is in short term uptrend. Currently it's consolidating and a decisive Break Down (most probably) may happen anytime soon
If manages to cross it, may see a rise till 5300 levels to meet the target.
You can plan the trade as per your risk appetite now!!!!!!!
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
DRREDDY MAY NEED A DOCTOR FOR ITSELF!1. After a decline from 5600 odd levels to 3700 odd levels, stock is in short term uptrend.
2. As we can see, a Bearish Flag is in making. Currently it's consolidating and a decisive Break Down (most probably) may happen anytime soon.
3. Rejection is also evident from the RSI, suggesting a strong decline in coming weeks.
4. For short term, stock is entering supply zone of 4450-4600. If manages to cross it, may see a rise till 4800 levels to meet the TL, and face resistance.
5. At the same time, it's also possible that may not give the Break Down and the pattern fails. For that to happen, we need a weekly closing above 4800. It'd break the Higher High - Higher Low Structure, and may see a new ATH in coming days.
6. However, if the pattern is respected and we see a decline around 4750-4800 levels, 4250-4400 would act as decisive support breaking of which we may see a decline to 3600-3200 levels.
7. Verdict: Sell on Rise as long as below 4800 WCB.
8. Should you invest?: Why not! These are just short term things which shouldn't matter to investors as well. Invest using Monthly SIP Mode.
DRREDDY BEST ANALYSIS FOR INVESTING.BUY DR REDDY after it touch red trend line and come back to 4319 level.
stopped and target mention on chart.
DONT BUY UNLEES IT TOUCH ABOVE RED LINE, OTHERWISE PATTERN FAILED.
Selling opertunity in DRREDDY.This long time trendline broke but could not continue the rally after break, There is this trendline which is holding now and there is a channel formation as well along with this trend line, Now price is moving towards the trend line where it meats with channel middle line,
expecting some rejection here and Price may come down before it moves and break trendline and channel and There is daily supply zone from where price may come down.
-Education purpose only.
Dr. Reddy may give good profit.Dr Reddy's laboratories making cup and handle pattern in hourly char. If
Stock gives breakout and closes above 4600 , we can take a long trade till 4700 and above.
Dr Reddy Cmp 4556 dated 2-11-2022 Shooting Star CandleDr Reddy Cmp 4556 dated 2-11-2022
1. Shooting Star Candle at the Top of the Chart.
Sell below 4545 for target 4450-4400-4370-4350
SL 4650
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, pls trade at your own risk.
DR REDDYbuy after trendline breakout | cmp - 4442 | buy above - 4480 | target- 4630 , 4930
//I am not a sebi registered agent , this post is only for educational purpose only , take your own decision or consult your financial advisor//
Dr Reddy: Unable to sustain breakout above key level NSE:DRREDDY seems could not be able to pierce through the major resistance line around 4625 (the recent swing high).
Note the volume. It's pretty significant and coincides with the Q2 result. So, things are interesting here.
Chartically, the following traits are seen:
A Head & Shoulder formation is seen with the neckline around 4200.
There is a downtrend line coming down since last one year.
The downtrend line & the H&S neckline is creating the symmetrical triangle (pennant) pattern.
Now the most interesting part: 31/10/22 has it's Q2 earning date. And see the volume, huge surge.
BUT The volume surge does not able to push the price above its recent swing high (Head of the H&S pattern) 4625.
Rather it closes (CMP: 4433) closes near its long-term support line of 4420-4430 level.
For it to go up, has to convincingly break past 4625 level.
Tradewise,
Resistance: 4625
Support: 4290
Next target: 4750/4900
The breakout above 4625 has to sustain good volume.
Buy IdeaBig Upside above 4389.
Triangle formation in progress.
levels are on the chart.
the analysis is just for educational purposes.
DRREDDY LongStock looks good for a move up at the break of the plot , consolidated for a long time and is on the break of cloud and trendline
Showing signs of bullishness in both daily and hourly timeframes
dr reddy labsDR REDDY LABS ....
1 - forming inverted h&s in 15 m time frame
2 - price trading above 200 ma in 15m TF.
3 - ready for BO
4 - price marking higher high
buy above cmp
sl @ 4270
t @ 4380
Intraday only
DRREDDY LONG TRADE (Intraday OCT 11)DRREDDY is in uptrend at daily level and in 15 min it is making bullish pennant wait for breaout and then watch if it takes support then we could expect upside move. Thank you !
DRREDDY LONG TRADE (INTRADAY OCT 10)DRREDDY is in uptrend on daily level and in 15 min it is making descending triangle , let's wait for breakout on upside only as trend is our friend. Thank you!
triangle formation in dr reddyDR REDDY
Time frame- DAILY
*Resistance - 4410 once closing above 4410 than upside till 4900 is possible.
*Support - 200 DMA, 100 DMA
*Short term
*Reason- long consolidation, and triangle formation breakout, strong support on 200DMA & 100 DMA
Disclaimer:- I am not SEBI registered analyst. Only for information and education purpose. Please consult your adviser before investing.
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Weekend Pick 1 - DR REDDY around Bullish BreakoutDr Reddy!
Fundamentally very strong, a must have in the long term portfolio from Pharma.
FIIs and DIIs have added holding in the last quarter!
Technically is on the verge of a triangle bullish breakout..
R 1: 4600
R 2: 5000
R 3: 5450
Strong Support : 4000
R : Resistance
Breakout ChartDr Reddy's chart is due for break out.
It will be a long candidate once it stays above .
Wait for the perfect breakout and go long for it.
DRREDDY - Consolidation BreakoutNSE: DRREDDY is closing with an bullish consolidation breakout candle supported with high volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been consolidating for the past few days and moving along the trendline which is indicating demand.
One can look for a 8% to 11% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.
Dr reddysAlways follow Risk and Position Management❇️❇️
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Happy trading😊
