EquityPandit’s Outlook for Dr. Reddy for the week (June 15, 2020 – June 19, 2020)

DR. REDDY:

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

Stock closed the week on negative note losing –0.42%

Week High 4190.00

Week Low: 3930.00

Week Range: 260.00 Points

DRRDDY Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 3778 levels, Minor resistance on the upside is capped around 4187 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 @ 3618 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 @ 4350.

Stock is trading above 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts Range for the week as 4400 on upside and 3600 on downside.

WEEKLY PIVOT LEVELS: