RDY trade ideas
DR REDDY , 1 Day Analysis , Inside Bar Overall Strong Uptrend Move .
Previous 6 Days Price Stucked In A Range Formed Inside Bar 5 Candle Close In It .
ADX Above 25
+DI Above -DI
Buy Above :- 4080 (Aggressive) , 4128 (Conventional )
Sl :- 3950
Target :- 4310-4390
Trail Your Sl And Try to Ride the Big Rally .
Happy Trading .
Darvas Box !!!Showing consolidation in Darvas Box , wait for breakout or pick it on 20/50 MA you will earn good amount of return. As I wrote AB=CD ?? , there is 60% possibility for that much amount of up move . We all know that it is a good pharma stock so it is possible. Leave that A,B,C,D if you just follow Darvas Box only you can earn good profit.
DR REDDY LONG TERM VIEWDR REDDY formed a bearish bat in monthly timeframe and currently trading inside the reversal zone.
It is expected to move out of the reversal zone and test the support @3720
DRREDDYS LAB.OVERALL NIFTY PHARMA HAS A STRONG BULLISH TREND RIGHT NOW, DRREDDYS CAN SHOW 4216 LEVELS IN COMMING DAYS ,
LOWER SIDE 3890/3815 LEVELS WOULD BE IMPORTANT TO WATCH
VIEWS AND SUGGESTIONS INVITED
DR REEDYFollow the trendline, it has been consolidating since last 4 days within larger candle, breakout can be seen on either side.
Dr. Reddy's seems bullish........Dr. Reddy's is showing traction on upside immediate target seems to be 4100+
Buy 4080 CE
DR REDDY ::: BEARISH POSITIONAL19 MAY 2020
INSTRUMENT: DR REDDY
TIME FRAME: DAY
Chart type used for confirmation: Renko
INDICATORS AND THEIR TRENDS:
PSAR: Bearish
STOCHASTICS: Bearish MOVING AVERAGE: Bearish SUGGESTED TREND: Bearish
Technical levels
CMP: 3691.95
Sell below: 3611.85
SL: 3725
TARGET 01: 3200
TARGET 02: 2876
My analysis of DR REDDY is it has completed the XABCD pattern and is below the 23.6 Fibonacci level. If it comes below 3610 would prefer shorting it for targets 3200 to 2876.
Sell below 3935 to target 3800According to 4h chart it's a range and below 3935 support will reach target 3800.
#BEARISH CRAB DRREDDYBearish crab identified in daily time frame. have to find reversal point in smaller time frame..stoploss and targets mentioned in chart..target can be change its depend on if it cross recently top near PRZ.
