Dr. Reddy’s is at retest levels to go up or down ….
Reasons/Traits :
• Bearish Cypher harmonic pattern is getting formed, to complete this pattern, trend will be up
• 200 MA is tested and 0.5 Fib levels are rejected and 0.382 Fib levels giving support in last couple of days
• Currently 1350 support taken, where 5 EMA is crossing 20 EMA and 200 EMA from bottom (currently all 3 at same place)
• 4850-4950 levels need to be broken to move down or up respectively
What can happen next :
Scenario 1 : An upside break out of 4950 can take price to 5100/5250/5400 levels to complete harmonic pattern
Scenario 2 : A downside break of 4850 can lead to the testing of 0.382 Fib levels
4850 is an important level, let’s see..
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Reasons/Traits :
• Bearish Cypher harmonic pattern is getting formed, to complete this pattern, trend will be up
• 200 MA is tested and 0.5 Fib levels are rejected and 0.382 Fib levels giving support in last couple of days
• Currently 1350 support taken, where 5 EMA is crossing 20 EMA and 200 EMA from bottom (currently all 3 at same place)
• 4850-4950 levels need to be broken to move down or up respectively
What can happen next :
Scenario 1 : An upside break out of 4950 can take price to 5100/5250/5400 levels to complete harmonic pattern
Scenario 2 : A downside break of 4850 can lead to the testing of 0.382 Fib levels
4850 is an important level, let’s see..
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Ghi chú
Scenario 2, 0.382 fib levels is acting as strong resistanceGhi chú
will it break out ? to reach highs...Đóng lệnh: đạt mục tiêu
all targets achieved
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.