DR Reddy's - Bullish Head n Shoulder Pattern
Updated
It is been observed on the daily chart that the price action forms an inverse Head N Shoulder pattern, indicating a positive and bullish move ahead.
Target 1: 2770
Target 2: 2810
Stoploss: 2690
Target 1: 2770
Target 2: 2810
Stoploss: 2690
Trade active
Trade active
After touching a strong support at 2705, it is coming up steadily.Trade active
Stoploss revised to 2665Trade active
Trade active
It is trending up and the final revision of SL 2650. Just sit tight, it shall rebounce.Trade active
Coming back steadily, now Reddy Ready to boost.Trade active
Trade active
Firing upTrade active
As requested by many traders on email, here is the current chart of Dr Reddy's, it is been consolidating between a range as marked in the chart. Once it breaks above resistance zone or breaks below support zone then we could see a fast momentum in the stock. Trade active
Breaking resistance zoneNote
Reddy Ready to boost this time.Trade active
Trade closed: target reached
It is been a week of consolidation and holding, and now eventually we reached our target successfully only by following the golden rule of trading "Sit tight". Thanks
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.