Dr Reddy's Lab has formed a long-term Cup & Handle pattern and has reached a resistance level. A breach of this resistance shall entail a rise in price level by another INR 1500 from current levels. Let us keep track of it. #drreddylab #drreddy #drreddy'stechnicalstudy #drreddy'scup&handlepattern #drreddy'spricelevel #drreddy'slabpricetarget
The Company had posted extraordinary result as well as giving breakout on charts. The Pharma index also on the verge of breakout after long consolidation. Overall, a good buy in short term on can go for the above mentioned levels even in futures also.
the stock is now at its resistance zone, where previously a strong selloff is observed from this level. Keep track this level for sell side...we have support at 5100 levels, if this breaks a strong fall is observed.. keep on buyside until this breaks and retest.
Dr reddys lab. The stock has completed running flat pattern in wave 4 at the weekly lower bollinger band, also weekly oscillator stochastic has completed its pullback cycle at oversold zones and now it has done positive crossover. the wave structure is suggesting the start of the larger degree wave 5, as wave 5 unfolds, the price can attempt to go higher towards...
may retrace more if the fib support area breaks but we can be optimistic about the rally too and if rallied without retracement, we can be sure about the achievement of the 2 TP but if retraced and rallied then ATH and 1TP can be the targets consequently