Dr. Reddy’s – At a Make-or-Break Point on the Trendline
Dr. Reddy’s is pressing right against the lower boundary of its falling channel — a trendline that has acted as support multiple times in the recent downtrend.
Right now, the stock is hovering near ₹1,199, trying to find its footing. This level is critical:
If the trendline holds → We could see a technical bounce back toward the mid-channel zone, potentially testing ₹1,240–₹1,260 in the short term.
If it breaks down → A clean close below this trendline, especially with volume, could accelerate the downside, opening the way toward ₹1,170–₹1,150.
Given the sharp selling momentum in the last few sessions, traders should watch closely for either a rejection candle with buying pressure or a break and retest of the channel base for confirmation.
Dr. Reddy’s is pressing right against the lower boundary of its falling channel — a trendline that has acted as support multiple times in the recent downtrend.
Right now, the stock is hovering near ₹1,199, trying to find its footing. This level is critical:
If the trendline holds → We could see a technical bounce back toward the mid-channel zone, potentially testing ₹1,240–₹1,260 in the short term.
If it breaks down → A clean close below this trendline, especially with volume, could accelerate the downside, opening the way toward ₹1,170–₹1,150.
Given the sharp selling momentum in the last few sessions, traders should watch closely for either a rejection candle with buying pressure or a break and retest of the channel base for confirmation.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.