Drreddy - Roundling BottomDrreddy retraced at golden ratio and forming round bottom. on verge of breaking neckline, RSI just crossed 60. Showing a powerfull momentum. Targets on chart...
RDY trade ideas
Drreddy - Elliott wave analysis - 5th wave up Drreddy is in 5th wave up. Go long near 4800 or slight lower level with stop loss below 4654 level for target above 5550 level. This is very good swing trade.
Dr Reddy - Ready for Breakout Above 4875Dr Reddy had a breakdown from the flag pattern it formed after huge upwards movement and filled and the gap and also consolidated in the range.
Last three closing have respected 9 DEMA and a closing above 4875 would mean respect for 21 DEMA also.
The stock shall take significant upmove on closing above 4875.
DRREADY IS IN BULLISH WOLFE WAVE CMP 4735 FOR 4958/5110/5745DRREADY IS IN BULLISH WOLFE WAVE CMP 4735 FOR 4958/5110/5320/5475 VIEW INVALID BELOW 4550
Comment: 4886 FROM 4735
Dr Reddy [Pharma Play]Stock has has been correcting for a while.
Nifty Pharma has also been correcting and could show rebound anytime soon.
Stock has taken strong support at 4800-4850 levels and has given a rebound as well.
Good time to start accumulating the stock.
MACD is has also given sign for reversal.
1st Target: 5330
2nd Target: 5500
SL@4700
DR REDDY LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
4980-4965 CAN ACT AS GOOD RESISTANCE; SELL ONLY IF THERE IS A REVERSAL CANDLE
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!
DRREDDY (BULLISH SWING)NSE:DRREDDY Daily Chart
This is DRREDDY daily chart
It is forming a Bullish Descending triangle pattern
Buy it on the breakout level of 4850
for the target of 5055,5260,and for the further target of 5512
Trade with Proper Risk Management.
Victory is beyond fear!!
Disclaimer: I am not a SEBI Registered Analyst. Please take position after consulting your advisor.
DR REDDY LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
BUY NEAR 4885 FOR TARGETS OF 4962/5000/5040
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!
Bottom formation, divergence on RSI.. Good Long trade setting upBottom formation, divergence on RSI.. Good Long trade setting up
Dr Reddys - Higher high and higher lowNSE:DRREDDY has been in positive trend with a higher high and higher low. Once again it has taken support of the lows made last week and bounced back well. I personally pefer going long above 4900 for a target of 5300-5500. Use trailing stop loss once entered.
DRREDDYIm not an expert im just sharing my views on DRREDDY for tomorrow
Im not responsible for any profit or loss this is not a recommendation
Resistance at 4950 and 5000*View is personal. taking into account of weakened performance of pharma sector and volatility of Indian market(IND VIX = 22.3). trend lines are drawn on taking hourly, daily and weekly candles. shows resistance at 4950 and 5000. At 5000 strike price, there is maximum open interest by option writers.
