19 MAY 2020
INSTRUMENT: DR REDDY
TIME FRAME: DAY
Chart type used for confirmation: Renko
INDICATORS AND THEIR TRENDS:
PSAR: Bearish
STOCHASTICS: Bearish MOVING AVERAGE: Bearish SUGGESTED TREND: Bearish
Technical levels
CMP: 3691.95
Sell below: 3611.85
SL: 3725
TARGET 01: 3200
TARGET 02: 2876
My analysis of DR REDDY is it has completed the XABCD pattern and is below the 23.6 Fibonacci level. If it comes below 3610 would prefer shorting it for targets 3200 to 2876.
INSTRUMENT: DR REDDY
TIME FRAME: DAY
Chart type used for confirmation: Renko
INDICATORS AND THEIR TRENDS:
PSAR: Bearish
STOCHASTICS: Bearish MOVING AVERAGE: Bearish SUGGESTED TREND: Bearish
Technical levels
CMP: 3691.95
Sell below: 3611.85
SL: 3725
TARGET 01: 3200
TARGET 02: 2876
My analysis of DR REDDY is it has completed the XABCD pattern and is below the 23.6 Fibonacci level. If it comes below 3610 would prefer shorting it for targets 3200 to 2876.
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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.
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.