Dr Reddy's LabHello and a warm welcome to this technical outlook on Dr Reddy based on Harmonic Patterns.
In daily time frame it has made a Bullish Harmonic Cypher suggesting an up move possible till 4800/5000 with a stop loss at 4500.
RDY trade ideas
Long $DRREDDY CMP ₹4958.70Long $DRREDDY CMP ₹4958.70. Testing resistance. Failed to follow thru last time. Mini cup and handle pattern. Earning expectation could take price back to previous highs. Resistance ~₹4972 Target 1 ~₹5436 Target 2 ~₹5594 Stop Loss ~₹4824
DR REDDY LABDisclaimer - This idea is only for educational purpose and I will not be liable for any profit/loss that you might incur.
Dr . Reddy fell from 5615 to 4440. Its since then retracing and faced rejection from 50% area, but while retracing it has made a rising wedge pattern and also given a break down on daily as well as hourly time frames. In my opinion it might test 4600 levels again before going up. So this is a good shorting opportunity.
Stoploss shouldn't be above '4975'
DRREDDY- Probable AB=CB CompletionProbable AB=CD completion. Long position can be taken for below target.
PRZ= 5256 to 5371
Target= 5256
CMP=4958
DRREDDY LOOKING BULLISH ABOVE 4910 DRREDDY Looking Bullish Above 4910 if sustain above on closing basis Will Touch 5500 In Coming Days
DR REDDY - POC assited reversal of polarityOn Thursday, the stock formed Gravestone doji with high volumes.
But on the last day, the bears have been negated since fresh demand has come into place at the POC.
Good price to enter, with stop loss as the red line.
DR REDDY BOOK PROFITS.DRREDDY on weekly charts macd divergence and double top , book profits and wait for few years for good price.
Dr Reddy - LongAfter the big fall on 27.07.21. Some buying interest seems to comming in the stock. If it is able to hold 4745 in all probability will resume uptrend
DRREDDY#tradethepattern
3% is the target, which ever side price breaks
Can take swing for 3% or better try Intraday for better returns (coz of leverage i meant)
drreddy long for 5 to 10 daysdrreddy
(i) crosses 44 ma at day candle
(ii) crosses 38.08% golden ration of fib retracement and there is an probability of archiving 61.80%
Drreddy - Elliott wave analysis - ABC zigzag in Y wave expecting ABC zigzag as the part of (B) wave up - small upside followed by pull back as B and then one more push higher to finish C of (B)
13% move possibleReddy's could move up the channel, if the last candle on weekly charts is any indication to go by - a 13% move until 5610..CMP - 4912. Let's see.
DR REDDY - Breakout candidateBreakout with good volumes and re-test done after strong buildup at resistance.
One can look for a swing trade from current levels.
20 EMA support as well.
Drreddy - Elliott wave analysis - ABC zigzag in (B) wave bounceIt is in (B) wave correction as ABC, where A wave looks like forming impulse, so expecting one more high and then correction of B and one more leg higher as c of (B). Once it finished (B) again it will go down for (C) down in complex (W)(X)(Y) correction down.
DRREddy buy for day tradeDRREddy for buy on 6th Sep if 1st 5 min candle green you will get good intraday trade.
DR REDDYS LABDr reddys lab.
The stock has completed running flat pattern in wave 4 at the weekly lower bollinger band, also weekly oscillator stochastic has completed its pullback cycle at oversold zones and now it has done positive crossover. the wave structure is suggesting the start of the larger degree wave 5, as wave 5 unfolds, the price can attempt to go higher towards 6800, 7000 & more, also there is a possibility of price rising higher more than 7500 if the up move extends towards the upper end of the rising channel. one can invest or go long at current level or in dips (if any) with stoploss of 4400, the weekly swing low of 4446 will now be a major support level to watch out for in the forthcoming weeks.
Weekly Cycle wave structure
Key Levels are Mentioned on chart
Completed running flat pattern in wave 4.
Weekly stochastic has done positive crossover at oversold zones and now its uptick
Price tooked support from long term horizontal trendline
Morning star at weekly lower bollinger band
Macd in daily positive crossover and Uptick
Rsi in daily Uptick and near 60
Daily Bollinger
Dmi adx also positive crossover
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
Buy Dr Reddey Target 🎯 5000Buy Dr Reddey Target 🎯 5000 it is recently trading at its support and thatwhy I have given target major Resistance.
DRREDDY - The down trend has stopped.Found support at the last visible POC, Followed by double convergence.
Also, good buy volumes can be found in lower tf.
It is safe to assume that the downtrend has stopped.
AN uptrend should be starting here
Drreddy - Elliott wave analysis - B of Y wave correctionIt should now bounce in B wave before next move down as C of Y wave. The drop from 5615 was impulse A wave and it should bounce in B.
Drreddy - Elliott wave analysis - ABC zigzag in Y wavewill go for one more low as 5th wave and then expecting bounce of B wave in ABC zigzag down
Share your comments and thoughts and like.
