DR Reddy's - Bullish Head n Shoulder Pattern

It is been observed on the daily chart that the price action forms an inverse Head N Shoulder pattern, indicating a positive and bullish move ahead.

Target 1: 2770

Target 2: 2810

Stoploss: 2690

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After touching a strong support at 2705, it is coming up steadily.

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Stoploss revised to 2665

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It is trending up and the final revision of SL 2650. Just sit tight, it shall rebounce.

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Coming back steadily, now Reddy Ready to boost.

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Firing up

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As requested by many traders on email, here is the current chart of Dr Reddy's, it is been consolidating between a range as marked in the chart. Once it breaks above resistance zone or breaks below support zone then we could see a fast momentum in the stock.

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Breaking resistance zone

Commento:

Reddy Ready to boost this time.

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Trade chiuso: obiettivo raggiunto:

It is been a week of consolidation and holding, and now eventually we reached our target successfully only by following the golden rule of trading "Sit tight". Thanks