drreddy is ready for a breakoutit is struggling at 4803, a daily close above it might give a pull back of 100 points. sell can also be initiated close below black line.
RDY trade ideas
Dr Reddy compliting consolidationDr Reddy fell after the quarterly results and delay on the Sputnik distribution. It purely fell because of the news. But this stock is fundamentally strong and recommended bullish on long term.
Here after the fall, it took the support and consolidated for a week. now, it is all set to go to its regular zone which is 5000+.
It can give good returns for August series from current level.
BuyIt stands well in the trend line Trend seems week below 4,350. Investors may buy some more shares arounf 4,550 levlels Short term targets 4,800++
Drreddy LONGEntry Stop Target on the chart
Dr. Reddy's Laboratories Ltd is a leading India-based pharamceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations.
DRREDDY The cup with handle pattern performed in this stock and also support and resistance line has been drawned .
Price ActionTrend lines can be used to trade, if it closes beyond those trend lines trade can be taken respectively
buy above 5300triangle formation.
immediate target 5400
triple tops formation. might breakout this time
sl below given level
Dr. ReddyLooks good. If it gives breakout with a bullish candlestick then we go for it as Swing trade.
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
dr reddyDr. Reddy’s Laboratories Limited commenced its generics business in India in 1986 and is today a trusted name in the healthcare industry consistently serving the needs of millions of patients with high quality, affordable and innovative medicines across therapy areas. The company’s shares trade on the Bombay Stock Exchange and the National Stock Exchange in India and on the New York Stock Exchange in the United States.
Business area of the company
The company is a leading India-based pharmaceutical company headquartered and having its registered office in Hyderabad, Telangana, India. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the Company offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services (CPS), generics, biosimilars and differentiated formulations.
Products
Generics
Over-the-counter
APIs (Active Pharmaceutical Ingredients)
Biologics
Differentiated Formulations
Core Businesses
Pharmaceutical services & active ingredients
Global leader in integrated development, manufacturing and supply of APIs.
Contract research, development and manufacturing services.
Global Generics
Finished dosage businesses in distribution-driven unbranded as well as detailing-driven branded markets.
North America, Europe, India, China, Russia & CIS countries are key markets in this segment.
DRREDDY BULLISH SIGNAL WITH BREKOUT FROM CUP AND HANDLE PATTERNDRREDDY BULLISH SIGNAL WITH BREKOUT FROM CUP AND HANDLE PATTERN
DR REDDY BEARISH SIDEHello Traders i found sell setup in DR READY In 4hrs Time Frame as we can see it came to its Resistance area it fails to cross it and also hit the trendline resistance area. if you find my trend setup is useful for you please like and follow me. THANKYOU TRADER
High Probabilty, Good Risk Reward TradeHigh probability trade with 1:3 Risk reward ratio.
As pharma sector given TL breakout And Dr reddy forming inverse head n shoulder pattern. Once break the neckline big move expected.
Entry 5510
Target 6765
Stoploss 5100
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.
