EquityPandit’s Outlook for Dr. Reddy for the week (April 29,2019 – May 03,2019)

DR. REDDY:

DRRDDY Ltd.

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

Stock closed the week on positive note gaining +3.50%

Week High: 2,924.15

Week Low: 2,797.20

Week Range: 126.95 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2880– 2870 levels, Minor resistance on the upside is capped around 3040– 3050 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 @ 2810– 2800 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 @ 3100-3120

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the week as 3100– 3120 on upside and 2810– 2800 on downside.