RDY trade ideas
Dr Reddys - Higher high and higher lowNSE:DRREDDY has been in positive trend with a higher high and higher low. Once again it has taken support of the lows made last week and bounced back well. I personally pefer going long above 4900 for a target of 5300-5500. Use trailing stop loss once entered.
DRREDDYIm not an expert im just sharing my views on DRREDDY for tomorrow
Im not responsible for any profit or loss this is not a recommendation
Resistance at 4950 and 5000*View is personal. taking into account of weakened performance of pharma sector and volatility of Indian market(IND VIX = 22.3). trend lines are drawn on taking hourly, daily and weekly candles. shows resistance at 4950 and 5000. At 5000 strike price, there is maximum open interest by option writers.
DRREDDY - At good support levelThis analysis is purely based on price action.
Analysis is done on daily TF hence it may take several days to couple of weeks to reach its target. Traders can also take advantage of this analysis in intraday trades.
Trade Strategy along with logic is explained in video itself.
Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
Trade at your own risk and money management
Feel free to comment for any queries & suggestion
Dr.Reddy is making a new appoinment?Price has bounsed from 618 fibo and 50EMA. Candle opend and closed above 50EMA. On the weeklee chart you can notice cup and it`s going to add a handle.
DRREDDY (Inverted H&S Pattern) - Intraday/Very Short Term SwingThis analysis is purely based on Price Action and Chart Patterns
Target may reach in intraday trade or in a couple of days.
Trade Strategies are shared in image itself with proper Entry level, SL and Target level
*Trade on your own risk and money management*
Feel Free to comment for any queries or suggestions
Rangebound TradingIt's a range bound market.. trading continuously between support and resistance . Price retraces from it's very support area which also creates a area of value to enter . If it sustains above 5110 , we will see a strong bullish move .
Excellent Dr Reddy ! Here stock make new support area so with SL of support we can long on it....
Personal advice:-
SL :- 4950
Limit :- 5800
Note :- Do not go with my advice , study a trade !
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Dr.Reddy - Bullish Flag/Pennant BreakoutDr.Reddy is on the verge of Bullish Flag/Pennant Breakout and looks good to make a new all-time high.
