Signals, Powered By EquityPandit
DRREDDY Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 500180| NSE: DRREDDY| ISIN: INE040A01026| SECTOR: PHARMA
Stock closed the Weekly on negative note losing -1.18%
DrReddy Share Price: 4519.40 (NSE)
Weekly High: 4758.60
Weekly Low: 4470.00
Weekly Range: 288.60 Points
Weekly Support & Resistance For DR. Reddy:
| RESISTANCE 2 | 4795.00 |
| RESISTANCE 1 | 4670.00 |
| SUPPORT 1 | 4326.00 |
| SUPPORT 2 | 4185.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 4326 levels, Minor resistance on the upside is capped around 4670 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 @ 4795.
Stock is trading above 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts Range for the Weekly as 4800 on upside and 4180 on downside.
DR Reddy is one of the best performing candidate in the pharma space and has formed higher highs and higher lowes formation, Stock is trading close to all time high levels and can continue to outperform the market in the coming weeks.
