DRREDDY--Strong Support @4200 levels.
Updated
Observations::
------>> we have detected that the stock is in the form of Head and Shoulders Pattern.
------>> If the demand zone @4600 acts as resistance,
will go for sell below left shoulder rejection level, for the target of 4400 and 4200 levels.
------>> We have a great support @4200, indicating a bullish gap + continuation to upside.
------>> look for buying in these levels to go for the target of upside bearish gap, and 5000 levels.
------>> we have detected that the stock is in the form of Head and Shoulders Pattern.
------>> If the demand zone @4600 acts as resistance,
will go for sell below left shoulder rejection level, for the target of 4400 and 4200 levels.
------>> We have a great support @4200, indicating a bullish gap + continuation to upside.
------>> look for buying in these levels to go for the target of upside bearish gap, and 5000 levels.
Note
Note
Price is now exactly @ Right shoulder, it will break or reversal as said above....keep track this also.
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