Signals, Powered By EquityPandit
DRREDDY Weekly Outlook and Analysis:
For the Week: (July 19, 2021 – July 23, 2021)
BSE: 500180| NSE: DRREDDY| ISIN: INE040A01026| SECTOR: PHARMA
Stock closed the Weekly on negative note losing –0.98%
Dr Reddy Share Price: 5406.55 (NSE)
Weekly High: 5534.00
Weekly Low: 5367.50
Weekly Range: 166.50 Points
Weekly Support & Resistance For DR. Reddy:
| RESISTANCE 2 | 5980 |
| RESISTANCE 1 | 5750 |
| SUPPORT 1 | 4660 |
| SUPPORT 2 | 4230 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 4660 levels, Minor resistance on the upside is capped around 5750 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 @ 4230 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 @ 5980.
Stock is trading above 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts Range for the Weekly as 6000 on upside and 4200 on downside.
On the daily chart of DrReddy, stock making channel formation and facing level of upper line of channel. stock in good positive trend and take support of trend line.
