EquityPandit’s Outlook for Dr. Reddy for the week (September 21, 2015 – September 25, 2015):

DR. REDDY:

Dr Reddy closed the week on absolutely flat note.

As we have mentioned last week that the resistance for the stock lies in the zone of 4050 to 4100 where short term moving averages are positioned. If the stock manages to close above this levels then the stock can move to the levels of 4200. The stock manages to hit a high of 4050 during the week.

Support for the stock lies in the range of 3950. If the stock closes below the levels of 3950 the stock can drift to the levels of 3750 to 3800 where 100 Daily SMA and trend-line support for the stock are positioned.

Resistance for the stock lies in the zone of 4050 to 4100 where short term moving averages are positioned. If the stock manages to close above this levels then the stock can move to the levels of 4200.

Stock has been moving in the tight range of 3950 to 4050 since last 10 days. A breakout on either side will move the stock further 4% to 5% in that direction.

Broad range for the stock is seen from 3800 – 3850 on downside to 4150 – 4200 on upside.