EquityPandit’s Outlook for Dr. Reddy for the week (May 18, 2020 – May 22, 2020)

DR. REDDY:

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

Stock closed the week on negative note losing –6.25%

Week High 3977.80

Week Low: 3717.05

Week Range: 260.75 Points

DRRDDY Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 3687 levels, Minor resistance on the upside is capped around 4049 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 @ 3571 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 @ 4145.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the week as 4150 on upside and 3570 on downside.

Weekly Pivot Levels: