DRREDDY INTO BEARS WARD ???!!!!

מעודכן
Chart pattern depicts the situation clearly

REASONS

1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly.
2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support(White coloured)
3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel
תמונת-בזק

4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top.
תמונת-בזק

5. Target & SL levels mentioned @ chart.

Safer SL - Day close above 4500

Let's wait and watch how it moves!!!!

Note - Just Sharing my view....not a tip nor advice!!!
הערה
Very narrow range!!! We can expect a big volatile move!!!
Also there is H&S in 1 hr timeframe!!!
תמונת-בזק
הערה
h&s breakdown with good volume support!!!
4240 can be 1st target!!!
עסקה פעילה
Above said ,h&s target achieved!!! with expected volatility

In daily timeframe , H&S alike pattern breakdown again!!!
תמונת-בזק
עסקה פעילה
setup intact!!!
Ascending ChannelBearish PatternsbreakdownChart PatternschartpatterntradingDescending ChannelDRREDDYdrreddyanalysisprobabilityroundingtopTrend Analysis

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