There was a gap down observed on daily chart which is been not filled up for a long time. Now the price action breaks out from a rectangular consolidation and shall reach out to 3280 levels in order to fill up that GAP.
Target: 3280
Stoploss: 3070
India's one of the biggest drug maker is going to release quarterly results soon and its stock is already feeling the jitters. Analysts and news papers will annotate the appropriate headline but someone who is aware about the technicals will of course be taking profit at this levels. A solid up trend from the beginning of 2009 is still in effect but it is...
As we can see a nice Bearish engulfing in this stock as we can short this stock might see some selling pressure.
Here we will move SL as we achieve 1:1 to BE.
If someone wants to do options ca sell 3500 ce and buy 3600 ce .
Happy trading :)
Interesting chart. Watching price action for more clues !! Breakout above upper end of the range accompanied by higher volume would tilt the scale in favor of accumulation.
THERE IS TWO POSSIBILITY IN DIS STOCK EITHER WE BROKE CHANNEL ON UPSIDE AND GO HIGHER OR WE GO ONE MORE LEG TO DOWN SIDE ..LET'S SEE HOW DIS STOCK REACT IN COMING DAYS.
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TRADE WITH CARE
REGARDS
KING999
The last 2-3 days rally in Dr.Reddys from 3253 may be just a relief rally. The nature of fall showing some fundamental issue in stock or sector. One may try after stock reaching 3100-3050 or firm close above 3640.
Bat pattern for the short term embedded inside a Butterfly pattern in the long term.
Bat pattern completed on 06.02.2015 at 3052.00. Go long with a SL of 3007 - 3000 in the short term.
This looks like a setup to keep an eye on. Buyers showed up at longer term trend line support and shorter term looks to be in a falling wedge pattern. Watch to to see if the recent strength continues over Friday's highs.
