R1DY34 trade ideas
DRREDDY S/R for 29/1/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
DRREDDEYPink Level is Major S/R
yellow Level is miner S/R
pls find bullish or bearish patterns on level
I am not SEBI register Advisor and I am not any trade and tips recommend here, This Idea post on this Channel Only for educational knowledge & learning purpose, I am not provide any trading tips, Before any Trade Advice your Financial Advisor, I am not responsible any profit and loss
DR REDDYS LABS Support & ResistanceSupport and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
Disclosure: I am not SEBI registered. I just wanted to let you know that the information provided here is for learning purposes only. Please consult your financial advisor before making any decisions. Tweets neither advice nor endorsement.
Dr.Reddy's to move into the INR6000-6200 zone in Wave V of 3This Pharma giant has outperformed Nifty 50 in the entire 2023. Starting from Jan.2023 the stock has been making clean and strong impulse moves and easily beating the index returns for the entire year.
The stock completed wave I of 3 between Jan-May 2023 and completed the wave III of 3 subsequently between May-Aug 2023.
Between Aug-Oct 2023 the stock was in a complex wave IV correction and came out of the same with wave i of V of 3 in month of Nov.
The stock now has a minimum of three legs pending to the upside in order to complete the wave V of 3. The remaining legs should be considered as minor sub-divisions of the Wave V itself.
The stock is projected going into the INR 6000-6200 zone from current levels in the coming moves.
On the downside the low of INR 5471 remains a crucial support.
At current levels the stock offers an attractive RR of more than 1:3.
Note*- Views are based on personal observations and opinions. Do your own research before making any trading/investing decisions.
DR REDDY DR REDDY is bullish sing for Swing
I am not SEBI register Advisor and I am not any trade and tips recommend here, This Idea post on this Channel Only for educational knowledge & learning purpose, I am not provide any trading tips, Before any Trade Advice your Financial Advisor, I am not responsible any profit and loss
Bullish Flag Pattern breakout in DRREDDYDR REDDY LABS LTD
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Bullish Flag Pattern.
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 7100+.
✅Can Go Long in this stock by placing a stop loss below 5060-.
Dreddy buydreddy share retracment previous impulse 38% retracment . dreddy price down triangle correction wave a,b,c,d or e . this correction complete price break all time high .
triangle internal Wave A internal a,b,c
Wave B internal a,b,c
Wave C internal a,b,c
Wave D internal a,b,c
Wave E internal a,b,c
Upside Target 5600 or 6000
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.
DRL a massive consolidation and Break outDRL has retraced to its 50% level. A massive correction and for weeks at a low price volatility and volume and break out. Upside could be of 5200 level to 6000 level from long term. The break out of 5000 level would be critical as stock would be volatile for upward move of 6000 level.
Low price volatility would provide an easy exit before SL.
Please do provide your comments.