After bouncing back from demand zone DRREDDY is trading in it's supply zone. Currently it's trading in a parallel channel and on Daily chart it's forming a flag & pole pattern.
Possibility of giving breakout from the flag & pole pattern is very less. But if it gives breakout with huge volume, one can go for a small swing for a target of 5650. But that would be a risky one.
If it gives breakout from the parallel channel, big fall can be seen till 5000.
Possibility of giving breakout from the flag & pole pattern is very less. But if it gives breakout with huge volume, one can go for a small swing for a target of 5650. But that would be a risky one.
If it gives breakout from the parallel channel, big fall can be seen till 5000.