the stock is now at its resistance zone,
where previously a strong selloff is observed from this level.
Keep track this level for sell side...we have support at 5100 levels, if this breaks a strong fall is observed..
keep on buyside until this breaks and retest.
Dr. Reddy's Laboratories Ltd is a leading India-based pharamceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations.
Stock is trading at 3.80 times its book value and maintaining a healthy dividend payout of...
downtrend formation with huge volume rise on negative side, price running against index gets breakout. Stock price working against Index might see a divergence. next session could give good result if support breaks, chances are Nifty may rise but may be stock pulls down as Nifty already has multiple hurdles to cross if it goes up.
Dr Reddy's Laboratories (NSE: DRREDDY)(NYSE: RDY) is a > MUN:10B pharma powerhouse based in India with a fast-expanding global footprint. This innovative juggernaut for pharma and biotech has witnessed a highly bullish price action uptrend YTD, with nearly 25% gains registered for its NSE ticker as of market close on Friday, situating share price some 5% above...
DRREDDY broke out of the channel and had a clear breakout which is supported by a good retracement at 5117 levels and is poised for a clear up movement.
One can place a low risk high profit trading strategy with a target close to its all time highs and a SL just below the support at 5082 levels.
DR REDDY has been trading cleanly in a channel. Price takes support at the bottom and gets rejected at the top. Will it face rejection again or breakout of the the channel this time?
The price of DRREDDY has given a breakout from 5070, which was previously a resistance level in October 2021.
If the breakout gets sustained, chances are high that price may go up till:-
1. 5440
2.5610
Entry can be initiated around 5100
Stop Loss- Daily close below 4862 for conservative traders.
Aggressive traders can look for daily close below 4980 as their stop loss.
Dr. Reddy's Laboratories is a leading pharmaceutical and biotechnology company that has established a robust business model, enabling it to achieve sectoral domination in the pharma/biotech industry. With a history spanning several decades, Dr. Reddy's has consistently focused on innovation, research, and development to create a diverse portfolio of high-quality...
After the sudden fall, the script has started following the range bound activity, as shown in the chart drawing.
Bounce from the lower zone of range shows positive bias till the lower support is intact.
Observations::
------>> we have detected that the stock is in the form of Head and Shoulders Pattern.
------>> If the demand zone @4600 acts as resistance,
will go for sell below left shoulder rejection level, for the target of 4400 and 4200 levels.
------>> We have a great support @4200 , indicating a bullish gap + continuation to upside.
------>> look for...
Dr. Reddy's laboratories Made a bullish move on major levels and then trap them and now making a falling wedge pattern now major support at 4400 if it breaks with huge volume then there is high probability that it starts new bearish trend in it but now Pharma sector can be bullish and it will affect Dr Reddy's laboratories so keep an eye on it.
Dr Reddy's (NASDAQ: RDY) is an India-based pharma company that is one of the most dynamic companies in the industry. The company is up nearly +7% YTD, though share price dipped last week after the release of Q4/FY2023 financials due to base business growth lagging behind forecasts. However, I see this recent decrease as a prime window of opportunity to establish...
