Price 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.
I published this chart. All the best. Chart study is prime. It takes time to fine tune.
Covered 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...
Downward Slopping Wedge break out . Looks good above 2335.
Sharp rise in almost all major Pharma stocks. So some correction is good. In case of this stock, price may correct towards 200 DMA.
Major resistance at 239 if take an support at 240 ...first...strong upmove
This 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.
check it out...if u find useful.lemme knw..if u want to add or edit something..punce some keys in the comment section
after 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.
after 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.
if 1965 level breaches u can sell a down fall of 30 points is excpected
One 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.......
buy 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 broke cloud resistance and now on verge of Double Bottom pattern break out above 2245.
DRREDDY Bear Flag or slow buildup or new uptrend!
DRREDDY pivot point.. Get clue from pharma sector .. worth a contrarian buy as overall market about to go risk off for coming months. Look for false break to 2200 where gap exist from 8 December
There is no consistency in the concept of Buy Low, Sell High. If you want to be successful in the markets you must Buy High, Sell Higher...