DRREDDY FLAG PATTERNDRREDDY price movement in the FLAG pattern range 1hour candle Breakout happen wait for DAY strong close above trend line, If happened Target would be 5950
RDY trade ideas
DR REDDYS LABS Support & ResistanceSupport and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
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My view on DrreddyDRREDDY forming inverse head& shoulder pattern 👆
Looking good for short term for tgt 5950-5980-6000++
Keeping on radar Drreddy 5900 CE
Dr.Reddy's to move into the INR6000-6200 zone in Wave V of 3This Pharma giant has outperformed Nifty 50 in the entire 2023. Starting from Jan.2023 the stock has been making clean and strong impulse moves and easily beating the index returns for the entire year.
The stock completed wave I of 3 between Jan-May 2023 and completed the wave III of 3 subsequently between May-Aug 2023.
Between Aug-Oct 2023 the stock was in a complex wave IV correction and came out of the same with wave i of V of 3 in month of Nov.
The stock now has a minimum of three legs pending to the upside in order to complete the wave V of 3. The remaining legs should be considered as minor sub-divisions of the Wave V itself.
The stock is projected going into the INR 6000-6200 zone from current levels in the coming moves.
On the downside the low of INR 5471 remains a crucial support.
At current levels the stock offers an attractive RR of more than 1:3.
Note*- Views are based on personal observations and opinions. Do your own research before making any trading/investing decisions.
DR REDDY DR REDDY is bullish sing for Swing
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Near Important Levels
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DRREDDY AILY CHARTDRREDDY looks interesting as it has corrected back to support zone.
Best risk to reward at cmp 4636.65
The next leg of upmove likely to breach previous highs & head to the flag mark.Stop loss should be below support levels of 4449
Its an observation & not suggestion
DRREDDYTrend line breakout with high volume of previous days
Price above all Moving averages
Macd bullish
Good bullish candle
RSI Bullish
Very good chart setup for swing trade
Disclaimer This is my personal view for education purpose only
No Buy sell recommendations.
Bullish Flag Pattern breakout in DRREDDYDR REDDY LABS LTD
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Bullish Flag Pattern.
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 7100+.
✅Can Go Long in this stock by placing a stop loss below 5060-.
Dreddy buydreddy share retracment previous impulse 38% retracment . dreddy price down triangle correction wave a,b,c,d or e . this correction complete price break all time high .
triangle internal Wave A internal a,b,c
Wave B internal a,b,c
Wave C internal a,b,c
Wave D internal a,b,c
Wave E internal a,b,c
Upside Target 5600 or 6000
drreddy labs is an excellent buy idea!Stock came out with excellent quarterly results...........stock at confluence support of channel median and AVWAP............also support coming at 50 RSI.............buy the stock for some good moves in coming days!
Dr Reddy's Breakout of falling wedgeStock is still looking good for an up-move, performed well yesterday. even tho the market sentiment was bearish.
Dr Reddy LabDr. Reddy looks good above 600.l0
Technically it is forming a poll and flag pattern and pharma sector is bullish so we can see straight rally in next three months after breakout.
My view on DrreddyDrreddy
On trendline breakout
If sustain above 5690-95
Looking tgt 5800-5840+++
In very short term.
Keeping on radar Drreddy 5650 CE
DR REDDYDr reddy is at all time high. it has gud target in near future because stock has consolidated so much in this price range........
Trying to make a bottom Dr.Reddy's LabDr Reddy's Laboratories Ltd (DRL) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services &Active Ingredients, Global Generics and Proprietary Products. Dr Reddy's began as a supplier to Indian drug manufacturers, but it soon started exporting to other less-regulated markets that had the advantage of not having to spend time and money on a manufacturing plant that would gain approval from a drug licensing body such as the U.S. Food and Drug Administration (FDA).Its major markets include - USA, India, Russia & CIS countries, and Europe. Dr Reddy Limited CMP is 5478.
The Negative aspects of the company are FIIs are decreasing stake, MFs are decreasing stake and Promoter Holding decreasing. The positive aspects of the company are No debt, zero promoter pledge, improving annual net profit and improving cash from operations.
Entry after closing above 5527. Targets in the stock will be 5642 and 5567. Long term targets in the stock will be 5847 and 5992. Stop loss in the stock should be maintained at closing below 5270.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
DRL a massive consolidation and Break outDRL has retraced to its 50% level. A massive correction and for weeks at a low price volatility and volume and break out. Upside could be of 5200 level to 6000 level from long term. The break out of 5000 level would be critical as stock would be volatile for upward move of 6000 level.
Low price volatility would provide an easy exit before SL.
Please do provide your comments.
DRREDDY- Next Up move StartedDrreddy - Elliott Wave Count
Dr. Reddy - It's time to close short positions and buy active now as the next impulsive wave started.
If the red line breaks, the view is invalid. Trade with caution.
NSE:DRREDDY BSE:DRREDDY NSE:DRREDDY1!
Bearish Trendlines in DRREDDY's Hourly and MACD Charts: A PotentIntroduction:
In technical analysis, trendlines are one of the most popular and widely used tools for identifying and analyzing market trends. A trendline is a line drawn on a chart to connect a series of highs or lows, and it is often used to identify the overall direction and strength of a trend. In this blog post, we will be discussing the potential bearish implications of trendlines in the hourly and MACD charts of DRREDDY, a leading Indian pharmaceutical company.
Hourly Chart Trendline:
The hourly chart of DRREDDY shows a bearish trendline that is acting as support has gap from the price of Rs.5430. This trendline that connects a series of highs, and it is often used to identify the overall direction and strength of a trend. In this case, the trendline is acting as support, which suggests that the price may bounce off this level and continue to decline.
MACD Trendline:
The MACD (Moving Average Convergence Divergence) oscillation is a popular indicator that is used to identify changes in the strength, direction, momentum, and duration of a trend. The MACD oscillation is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA.
The resulting MACD line is then plotted on a chart, and it is often used in conjunction with the MACD histogram, which is a visual representation of the difference between the MACD line and the signal line. In the case of DRREDDY, the MACD oscillation is showing a bearish trendline that is acting as support at the price of Rs.5430.
This trendline is a horizontal line that connects a series of highs, and it is often used to identify the overall direction and strength of a trend. In this case, the trendline on MACD was acting as resistance became support, which suggests that the price may bounce off this level and continue to decline.
Conclusion:
In conclusion, the bearish trendlines in the hourly and MACD charts of DRREDDY suggest that the price may continue to decline in the near term. The hourly chart trendline is acting as support and the MACD trendline is also showing a bearish trendline that is acting as support at the same level. These trendlines are important technical indicators that can help traders and investors identify potential areas of support and resistance, and they can be used in conjunction with other technical and fundamental analysis to make informed investment decisions.
Happy trading.
DRREDDY Stock break neckline with good volume also break 20&50 DEMA.
Chart look very Bearish.
Febonnaci level 0.5 break
Next support 5426 is febonnaci 0.618 level
Macd give sell signal.
Disclaimer This is my personal view for education purpose only.
Possibility of Short or Buying it cheapIt has crossed the resistance with weak candles and couldn't sustain. It is going to touch its support.
Stochastic has moved from Overbought, if crossed it will touch the zone where we can re-enter.
Simple charts, so that, everyone can understand.
I'll be posting more such ideas like this. Until that, like share and follow :)
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Wayfarer.
keep learning and keep earning.
DRREDDY Looking Bullish At TopDRREDDY witnessed a phase of profit booking two weeks ago, subsequently trailed by a week of uncertainty. Notably, this week's trading shows a highly bullish candle that covers more than 80% of the previous two candles' span. This suggests a potential continuation of the upward trend.
Multiyear Breakout retest pattern with Low risk high rewardDRREDDY looks very strong. It's had multiyear breakout and retested as well.
Technically showing strength. Since its retested and very close to the previous high and at lower risk level. at this level Risk reward would be favor.
