DRREDDY trade ideas
Review and plan for 29th July 2024Nifty future and banknifty future analysis and intraday plan in kannada.
Stocks to watch - included.
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please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
DR REDDYS LABS S/R for 15/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
Dr. Reddy's Laboratories Limited - Breakout Setup, Move is ON...#DRREDDY trading above Resistance of 6474
Next Resistance is at 7803
Support is at 5786
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Pharma in focus - DrReddy close to breakoutDrReddy is forming a good ascending triangle.
Pharma/Hospital companies are rising lately with some good earning calls.
A close above 6000 would lead to new highs.
SL: 5500
Targets: 6450/7200
DR REDDY'S LABS S/R for 29/624Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
plz suggest ase wale setups chelte h kyacup and hundle pattern plz tell if this is work in such a way
Dr Reddy's Dr Reddy's can give a good INTRADAY to SWING trade with a decent stoploss and good Targets
ENTRY - 6060
STOPLOSS - 6025
TARGETS - 6180, 6240, 6300++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi registered this is my personal view
Please like or boost my idea if you like it or traded it
Thankyou
DR.REDDY'S LAB - CUP AND HANDLEDr Reddy's Lab has formed a long-term Cup & Handle pattern and has reached a resistance level. A breach of this resistance shall entail a rise in price level by another INR 1500 from current levels. Let us keep track of it.
#drreddylab #drreddy #drreddy'stechnicalstudy #drreddy'scup&handlepattern #drreddy'spricelevel #drreddy'slabpricetarget
DR Reddy up for a Boom??The recent price movement of Dr. Reddy's stock appears positive and indicates the potential for significant growth. The chart is also relatively easy to interpret, reinforcing this view.
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Dr reddy Good setup!A clean consolidation setup
Continuation of uptrend
Quaterly result week so volatility will act
Solid stock
Green lines are targets
Red line is stop loss
Trade accordingly !!
dr reddy
NESTLEIND and Dr. Reddy's Laboratories agreed to set up a new joint venture consolidating their nutritional businesses, according to an Indian bourse filing on Thursday. The proposed joint venture will combine Nestle Health Science's nutritional health solutions, vitamins, minerals and health supplements with Dr. Reddy's nutraceuticals, the filing said.
DR. REDDY LONG TERM ANALYSIS.this one might just straight up be an overkill but its all fun and games :)
Happy Trading !!!
Descending Triangle formation in Dr Reddy'sThis script is trading below 20 & 50 MA, with weakness and downtrend visible on the chart.
The script has also formed a descending triangle pattern.
A breakdown of this triangle may lead to a correction.
Entry and target levels are marked on the chart.
Stoploss is to be placed above the previous swing high.
NIFTY PHARMA INDEX is also weak.
Ivert H&S breakout after 3 year range breakout with current level Invert H&S breakout with 1H TF with good Volume.
DR Reddy Ready for Fly in long termDR Reddy has made Flag, and the breakout is done.
Buy and target is 6000, 6500,7000
#DRREDDY - BUY AROUND 4250 TGT 5400/6500 SL BELOW 3800 As per the chart and earnings, it is in consolidation and might continue with the same till next quarterly earning report, will give the above mentioned targets if the quarterly targets are matched as given in commentary in last quarterly report
Buy DRREDDY @ 4485 TGT 4920/5340 Sl below 4200 closing basis The Company had posted extraordinary result as well as giving breakout on charts. The Pharma index also on the verge of breakout after long consolidation. Overall, a good buy in short term on can go for the above mentioned levels even in futures also.
Dr Reddy Labs - beautiful rounding bottom breakoutDr. Reddy was in a rounding bottom for 160 days and has finally broken out of it
Good time to add
Keep stoploss at 5500
Target is 10,000
DR.REDDY MIGHT MOVE FURTHER UPDr Reddy might give a further up move for small targets and for INTRADAY or 2,3 days SWING trade.
Entry - 6190 above or sustaining between 6190-6200
STOPLOSS - 6130
TARGETS - 6300, 6350++
Note - if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi registered this is my personal view
Long Dr Reddy As per price action formation has been made in 1 week TF.
Its a very big move.
Always check the sentiments of the market as per technical analysis, if the pattern get its respect.
Best of luck to all traders.
You are responsible for your Profits and loss, Shared for Educational purpose
DR REDDYS LABS , Resistance BREAKOUT from last 5 monthsAll information is for educational purposes only, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. I'm are not responsible for any profit/loss you made.
