EquityPandit’s Outlook for Dr. Reddy for the week  (Sep 18, 2017 – Sep 22, 2017) :

DR. REDDY:

Dr Reddy closed the week on positive note gaining around 2.20%.

As we have mentioned last week, that minor support for the stock lies in the zone of 2100 to 2150. Support for the stock lies in the zone of 2000 to 2030 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1900 to 1930 where long term Fibonacci levels are lying. During the week the stock manages to hit a low of 2135 and close the week around the levels of 2211.

Minor support for the stock lies in the zone of 2150 to 2170. Support for the stock lies in the zone of 2050 to 2100 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1900 to 1930 where long term Fibonacci levels are lying.

Resistance for the stock lies in the zone of 2200 to 2230 from where the stock broke down. If the stock manages to close above these levels then the stock can move to the levels of 2300 to 2330 where short term moving averages are lying.

Broad range for the stock is seen from 2100 – 2130 on downside & 2330 – 2350 on upside.