DRREDDY trade ideas
DR REDDY : GETTING READY FOR 6000Dr Reddy chart pattern showing SOME NEWS IS UNDER RADAR....GETTING READY FOR 20-25 PERCENT UPSIDE SOON
Up from support and trend line breakoutUp from support and trend line breakout. Short term target mentioned in chart.
RDY buyzonein buy-zone between 60.87 and 57.85; target is 65.98; this is a low volume stock so have your stops set; stop loss at 54.74; potential r/r 2.59
longPRICE MAKING HNS COMING ABV SUPPORT
ENTER ABV 4420 SL BREAKOUT CANDLE AND TARGET SHOWN BY RED LINES
Drreddy looking good. For Round 2 of rally !!After a steep correction from highs of 5k plus, looks to form support near 4.3k which happens to the be the trendline support as well.
Can enter in cash or deploy hedge trade for safe return. !!
Possible bounce is due..RSI divergence + tested previous consolidation zone + higher volumes than previous few day(s) with green candle.
Breaking of upper trend line may give some long trading opportunity.
Just my study. Not any trading or investing advice.
Supply Zone Broken and Retest doneDR Reddy as long as closing above the supply zone, expect downside target marked on the chart for long term.
Lets' see..
DRREDDY up moveCurrently DRREDDY is trading below 200 EMA on 4 hrs time frame. However it has taken support which is marked on the chart.
It has also broken the trendline with reasonable volumes marked on chart. Seems like ready for a up move in coming weeks.
This is just for an educational purpose.
DRREDDY - Breakout ?DR REDDYS LABS
Bouncing on support
Bouncing off Weakly 50 MA
Look for buy on trendline breakout
targets in green
DR REDDYS LABS Analysis 02/03/2021may 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
