🔍 Chart Overview
Dr. Reddy’s has been trading inside a broad consolidation range after a prolonged correction, while respecting a descending trendline from ~₹1,400 levels.
Price is now approaching a key resistance confluence near ₹1,330–₹1,350, making this a crucial breakout zone.
📈 Key Observations
✅ Descending Trendline Resistance
Multiple touches since early 2025
Current price (~₹1,336) sitting just below resistance
➡️ Breakout attempt in progress
✅ Range Structure
Price oscillating between ₹1,200 – ₹1,350
Current move is toward range high resistance
✅ Moving Average Alignment
Price above short-term MAs
Testing 100/200 SMA zone → key trend reversal signal if sustained
✅ RSI Strength
RSI ~60 → bullish momentum building
No overbought signal yet → room for upside
🚀 Trade Setup
✅ Bullish Breakout Setup
Entry: Above ₹1,350 (strong close + follow-through)
Targets: ₹1,400 / ₹1,450 / ₹1,500
Stop Loss: Below ₹1,280
❌ Rejection Scenario
Failure near resistance → continuation of range
Downside targets: ₹1,280 → ₹1,220
Dr. Reddy’s has been trading inside a broad consolidation range after a prolonged correction, while respecting a descending trendline from ~₹1,400 levels.
Price is now approaching a key resistance confluence near ₹1,330–₹1,350, making this a crucial breakout zone.
📈 Key Observations
✅ Descending Trendline Resistance
Multiple touches since early 2025
Current price (~₹1,336) sitting just below resistance
➡️ Breakout attempt in progress
✅ Range Structure
Price oscillating between ₹1,200 – ₹1,350
Current move is toward range high resistance
✅ Moving Average Alignment
Price above short-term MAs
Testing 100/200 SMA zone → key trend reversal signal if sustained
✅ RSI Strength
RSI ~60 → bullish momentum building
No overbought signal yet → room for upside
🚀 Trade Setup
✅ Bullish Breakout Setup
Entry: Above ₹1,350 (strong close + follow-through)
Targets: ₹1,400 / ₹1,450 / ₹1,500
Stop Loss: Below ₹1,280
❌ Rejection Scenario
Failure near resistance → continuation of range
Downside targets: ₹1,280 → ₹1,220
İşlem kapandı: durdurma seviyesi
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.