Signals, Powered By EquityPandit
DRREDDY Weekly Outlook and Analysis:
For the Week: (Feb 28, 2022 – March 04, 2022)
BSE: 500180| NSE: DRREDDY| ISIN: INE040A01026| SECTOR: PHARMA
Stock closed the Weekly on Negative note losing –3.35%
Dr Reddy Share Price: 4176.60 (NSE)
Weekly High: 4416.65
Weekly Low: 4049.95
Weekly Range: 366.70 Points
Weekly Support & Resistance For DR. Reddy:
| RESISTANCE 2 | 4580 |
| RESISTANCE 1 | 4378 |
| SUPPORT 1 | 4011 |
| SUPPORT 2 | 3846 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 4011 levels, Minor resistance on the upside is capped around 4378 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 @ 3846 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 @ 4580.
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts Range for the Weekly as 4580 on upside and 3846 on downside.
