EquityPandit’s Outlook for Dr. Reddy for the week  (Sep 04, 2017 – Sep 08, 2017) :

DR. REDDY:

Dr Reddy closed the week on positive note gaining around 6.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 2200 to 2230 from where the stock broke down. If the stock manages to close above these levels then the stock can move to the levels of 2370 to 2400 where Fibonacci level is lying. During the week the stock manages to hit a high of 2233 and close the week around the levels of 2218.

Minor support for the stock lies in the zone of 2100 to 2150. Support for the stock lies in the zone of 2000 to 2030 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1900 to 1930 where long term Fibonacci levels are lying.

Resistance for the stock lies in the zone of 2200 to 2230 from where the stock broke down. If the stock manages to close above these levels then the stock can move to the levels of 2370 to 2400 where Fibonacci level and short term moving averages are lying.

Broad range for the stock is seen from 2000 – 2050 on downside & 2350 – 2400 on upside.