DRREDDY Weekly Outlook and Analysis:

For the Week: (Aug 03,2020 – Aug 07,2020)

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

Stock closed the week on positive note gaining +11.19%

Dr. Reddy Share Prcie: 4521.05 (NSE)

Week High: 4560.00

Week Low: 3962.95

Week Range: 597.05 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 4325 levels, Minor resistance on the upside is capped around 4650 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 @ 4185 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 @ 4785.

Stock is trading above 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts Range for the week as 4800 on upside and 4180 on downside.

The stock is on new high and strongly moving in uptrend. It broke the resistance level with good volume . The trend for DREDDY is bullish and it can continue to move towards 4800 level in coming trading sessions.

DRREDDY Weekly Support & Resistance Levels: