Hello Everyone,’
This week we have a great set up for traders – equity cash, future & options, investors can have excellent opportunity. In this week we have a large cap stock on the radar and which has given a break out on the weekly and daily charts. So Guy’s let’s have a look at the below chart of Dr. Reddy’s
From the above weekly charts you can see that the Dr. Reddy’s stock is in a uptrend and from September 2020 it was trading in a range of 4280 to 5340. On Friday Dr. Reddy stock came out of range and breaking the high of 5340 made a intraday high of 5490 & closed at 5453. Dr. Reddy’s previous all time high was at 5512 and look at the breakout on weekly charts on closing basis we can expect the stock to move higher and higher. In the short to medium term we can see the stock to 5949 (the levels for F&O traders) and 6900 levels on cards.
So everyone please keep watch on this stock.
Disclaimer : – The ideas posted here are only for Educational Purpose, do consult your financial advisor before taking any position. We are not the SEBI Registered advisors.
