EquityPandit’s Outlook for Dr. Reddy for the week (Sept 17, 2019 – Sept 21, 2019)

DR. REDDY:

DRRDDY Ltd.

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

Stock closed the week on negative note losing –0.31%

Week High: 2794.95

Week Low: 2692.75

Week Range: 102.20 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2690 levels, Minor resistance on the upside is capped around 2819 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 @ 2636 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 @ 2859.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the week as 2860 on upside and 2635 on downside.