Breakout of Symmetrical triangle DRREDDY close above 2675 will take it to 2800 Support at 2600 resistance at 2800
DRREDY SHORT if breaks 2597 , for target 2588
AS discussed in our channel www.t.me Dr Reddy is looking good for midterm positional trade with area marked in green as potential targets. DISCLAIMER: The Legal stuff - I'm not financial adviser and all the charts posted are for paper trading . PS make sure you give me a like, that way you get updates as I post them.... :) <3 You can join my free telegram...
THe Technical shows that major trend of DR reddy is bearish and it's about a correction and about to trend reversal.
after formation of an "V"....small channel ..then small channel broke itself...seems as if there is an formation of a bigger channel..which can take drreddy to an tgt - 2051...1963 has acted as an good support and resistance many times...however if 1963 breaks ..my view turns bearish with an tgt of 1894.
One of the Rare Trend Exhaustion Trade Setups where one can anticipate a potential short covering rally towards 2030 in 1-2 trading sessions. Most of the Pharma comapanies in Nifty 50 like Cipla, Lupin, Sunpharma is already in rally mode. Possibly DR-Reddy looks to join them.
One can short drreddy below 2055 keeping stop loss of 2091 , 1st target is 1995, 2nd target is 1946.. one can also buy april 2000 put around 45-50.... just my view. do it on your own risk.......
buy call has been generated , one can buy above 2175 keeping stop loss of 2090, 1st target can be 2218, 2nd target can be 2262. ... do it at your own risk......
DRREDDY Bear Flag or slow buildup or new uptrend!
DRREDDY pivot point.. Get clue from pharma sector .. worth a contrarian buy as overall market about to go risk off for coming months. Look for false break to 2200 where gap exist from 8 December
DR Reddy shows extreme sentiment and currently underperforming the benchmark index Nifty 50. Sooner or later - medium term uptrend is expected towards 3200 Despite all the negative sentiment stock is not loosing. Its a potential sign that trend reversal in place. For more sentimental analysis visit mrkt.co.in
Looks like the stock is headed higher. The volume is slowly picking up..looking for target of 3100 and more.
Happy New Year to all. New year has arrived with new opportunities. It is always good to start a new year with profitable note. Our short NIFTY and other selected stocks positions ( via puts of courses ) is well in green and now it looks like the test of solid support levels near 8200 / 8000 is inevitable in coming sessions. Many of the trades we have...
There was a gap down observed on daily chart which is been not filled up for a long time. Now the price action breaks out from a rectangular consolidation and shall reach out to 3280 levels in order to fill up that GAP. Target: 3280 Stoploss: 3070
India's one of the biggest drug maker is going to release quarterly results soon and its stock is already feeling the jitters. Analysts and news papers will annotate the appropriate headline but someone who is aware about the technicals will of course be taking profit at this levels. A solid up trend from the beginning of 2009 is still in effect but it is...
DRREDDY Short below 3350 SL 3550 Targets can be the retracements at 2950 levels