DRREDDY trade ideas
Top resistance breakout-Dr.Reddy'sDr.Reddy's has broken its top resistance zone and is bullish throughout the day. It is a good opportunity for the astute investors who are looking to accumulate it. The fundamentals have been very strong. It has posted a record rise in revenues in recent financial reporting, cleared lawsuits in the launch of generic drugs and is a top choice for diversification of portfolio. Clear confirmation signals from MACD, RSI and Slow Stochastics as well.
DRREDDY MIDTERM TRADE SETUP
AS discussed in our channel www.t.me Dr Reddy is looking good for midterm positional trade with area marked in green as potential targets.
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The Legal stuff - I'm not financial adviser and all the charts posted are for paper trading .
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Dr Reddys LABStart Accumulation of DR REDDYS LAB:
POSITIONAL BUY
Till This YEAR END Only.
MUST watch.
DRREDDY - Fib BuyExpecting the marked Long to play out, so selling the Put Option at 2000 strike price in the expectation of it expiring OTM.
DR Reddy Lab - Possible 50-150% up side move in a YearTHe Technical shows that major trend of DR reddy is bearish and it's about a correction and about to trend reversal.
Dr. Reddy LaboratoriesPrice has shown strong recovery, but is at resistances for now with the Daily RSI also at Overbought. The up-side is likely to be very limited for now, might not cross 2200 this series, so one can consider selling 2200 CE June series.
DrReddy, 200 DMACovered this stock earlier when price made a bottom. Pharma Industry is showing signs of recovery after of 4 years of lull. The stock made a steep move to cross 200 DMA and then corrected towards 200 DMA. Now if 200 DMA provides support, price may see the swing high. 50 DMA may give an upward cross to 100 DMA, will boost bulls. Immediate resistance lies at 2300 since Calls at this strike is the highest.
Downward Slopping Wedge break out . Looks good above 2335.Downward Slopping Wedge break out . Looks
good above 2335.
Dr. ReddyBullish engulfing candle
Long above 2276 for targets of 2336 with stop loss at 2244
Published views are for educational purpose only
DrReyySharp rise in almost all major Pharma stocks. So some correction is good. In case of this stock, price may correct towards 200 DMA.
DrReddy, 200DMAThis is one more stock in Pharma segment which is showing sign of trend change. Chart speaks volumes. Earlier times also it faild to hold above 200 DMA and crashed. At present times, the difference is formation of a support base and then moving up to cross 200 DMA. Keep a close watch at 200 DMA.
MY new setup..still working on price time relationshipcheck it out...if u find useful.lemme knw..if u want to add or edit something..punce some keys in the comment section
DRREDDY 15 min chartsafter formation of an "V"....small channel ..then small channel broke itself...seems as if there is an formation of a bigger channel..which can take drreddy to an tgt - 2051...1963 has acted as an good support and resistance many times...however if 1963 breaks ..my view turns bearish with an tgt of 1894.
drreddy 15 min anylsisafter formation of an "V"....small channel ..then small channel broke itself...seems as if there is an formation of a bigger channel..which can take drreddy to an tgt - 2051...1963 has acted as an good support and resistance many times...however if 1963 breaks ..my view turns bearish with an tgt of 1894.
DRREDDY ShortOne can short drreddy below 2055 keeping stop loss of 2091 , 1st target is 1995, 2nd target is 1946.. one can also buy april 2000 put around 45-50.... just my view. do it on your own risk.......
DRREDDY buybuy call has been generated , one can buy above 2175 keeping stop loss of 2090, 1st target can be 2218, 2nd target can be 2262. ... do it at your own risk......
Dr Reddy interesting to watch above 2245Dr Reddy broke cloud resistance and now on verge of Double
Bottom pattern break out above 2245.
