EquityPandit’s Outlook for Dr. Reddy for the week (June 01, 2019 – June 07, 2019)

DR. REDDY:

DRRDDY Ltd.

BSE: 500180| NSE: DRREDDY| ISIN: INE040A01026| SECTOR: PHARMA

Stock closed the week on positive note gaining +0.51%
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2600 levels, Minor resistance on the upside is capped around 2710 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 2530 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 2760

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the week as 2760 on upside and 2530 on downside.