dr.reddy has fallen from few days and after dat der is an hammer head pattern and den doji so its looks like trend reversalto bull
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Stock Ticker – NSE: DRREDDY – Dr. Reddy’s Laboratories Ltd. – PHARMA
Bullish Trade plan:
Entry Level 2800 Target 2950 Stoploss 2665
Analyst Rating – :3/5
View Posted on 2019-06-05
If you read the Price Action (PA) as to what stopped the fall of 4/June gave a bounce & created a Doji.: DRReddy bullish as the Doji Low has hit a demand area and origin of up-move after fall of 9/11/2018. This demand has broken the Resistance and price closed above on 30/11/2018. Hence, Low of this pattern (30/Nov) 2389 / 2332 (8/Oct), becomes a proven Support. Also note the Pro-Gap between close & open of 8 & 10/Oct which stopped the decline from 26/Sept. Sharing concept of ‘PA’ which can be seen on all TFs down to 1 minute, hope this helps.