DR.REDDY'S LAB - CUP AND HANDLEDr 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.
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Drreddytrend
Buy DRREDDY @ 4485 TGT 4920/5340 Sl below 4200 closing basis 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.
Trying to make a bottom Dr.Reddy's LabDr Reddy's Laboratories Ltd (DRL) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services &Active Ingredients, Global Generics and Proprietary Products. Dr Reddy's began as a supplier to Indian drug manufacturers, but it soon started exporting to other less-regulated markets that had the advantage of not having to spend time and money on a manufacturing plant that would gain approval from a drug licensing body such as the U.S. Food and Drug Administration (FDA).Its major markets include - USA, India, Russia & CIS countries, and Europe. Dr Reddy Limited CMP is 5478.
The Negative aspects of the company are FIIs are decreasing stake, MFs are decreasing stake and Promoter Holding decreasing. The positive aspects of the company are No debt, zero promoter pledge, improving annual net profit and improving cash from operations.
Entry after closing above 5527. Targets in the stock will be 5642 and 5567. Long term targets in the stock will be 5847 and 5992. Stop loss in the stock should be maintained at closing below 5270.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
DRREDDY--Strong Support @4200 levels.Observations::
------>> we have detected that the stock is in the form of Head and Shoulders Pattern.
------>> If the demand zone @4600 acts as resistance,
will go for sell below left shoulder rejection level, for the target of 4400 and 4200 levels.
------>> We have a great support @4200 , indicating a bullish gap + continuation to upside.
------>> look for buying in these levels to go for the target of upside bearish gap, and 5000 levels.
DR REDDY Dr reddy
Up side Target 5335/4950
down side Target 3930/3385
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Disclaimer
I am not sebi registered analyst My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as its my personal trade.
DR. REDDY WEEKLY CHART viewDr. reddy currently at a very crucial point.
It is a make or break level..
If it falls can give a great breakdown and if it rises one can add it for some long term gains of around 1000+ points.
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
DRREDDY UPSIDE POSSIBLEI would not be able to able to explain this chart this time but according to me the chart looks pretty self explanatory.
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DR REDDYS LABDr 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 6800, 7000 & more, also there is a possibility of price rising higher more than 7500 if the up move extends towards the upper end of the rising channel. one can invest or go long at current level or in dips (if any) with stoploss of 4400, the weekly swing low of 4446 will now be a major support level to watch out for in the forthcoming weeks.
Weekly Cycle wave structure
Key Levels are Mentioned on chart
Completed running flat pattern in wave 4.
Weekly stochastic has done positive crossover at oversold zones and now its uptick
Price tooked support from long term horizontal trendline
Morning star at weekly lower bollinger band
Macd in daily positive crossover and Uptick
Rsi in daily Uptick and near 60
Daily Bollinger
Dmi adx also positive crossover
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
DR REDDY DrReddy has given a good Breakout
One can go Long with mentioned levels in chart
Hourly time frame chart pattern
Key Levels
MACD pco
DMI ADX UNGALI POSITIVE
RSI above 76
Upper Bollinger Challenged by PRICE
Breakout candle with Good Volume
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
DRREDDY - Another Gem on my RadarI have also talked about this stock in my previous post, and since then this stock has been trading in a small range near its all-time highs.
The reason I am interested in this stock is that every time it came to the lower end of the range, it bounces decisively, though whenever it reaches its upper range, it falls with low momentum and usually forms indecisive candles.
Even today it bounced well and it might open gap up tomorrow, and if it opens above the range, it might move fast towards its all-time high i.e. 5512 and beyond.
R-0231 Short Term Cash Buy DRREDDY @5070-5075 SL 4945 TGT 5300Short Term Cash Buy DRREDDY @5070.00-5075 SL 4945 TGT 5300 (Bullish breakout post consolidation)
The stock price is 1% lower from intraday high so good entry level.
Break resistance 5011 and 5006 on daily and hourly chart so chart looks bullish. Next resistance level 5200/5395 we expect it to break 5200 and move towards 5395.
Close to VWAP 5054 once hold can see intraday sudden movement on the upside.
TK line cross over again add favourable for the buyer.
Once I am publishing it moves 0.5% so looks in good momentum.
Dr Reddy - Ready for Breakout Above 4875Dr Reddy had a breakdown from the flag pattern it formed after huge upwards movement and filled and the gap and also consolidated in the range.
Last three closing have respected 9 DEMA and a closing above 4875 would mean respect for 21 DEMA also.
The stock shall take significant upmove on closing above 4875.