DRREDDY INTO BEARS WARD ???!!!!
Chart pattern depicts the situation clearly
REASONS
1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly.
2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support(White coloured)
3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel
4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top.
5. Target & SL levels mentioned @ chart.
Safer SL - Day close above 4500
Let's wait and watch how it moves!!!!
Note - Just Sharing my view....not a tip nor advice!!!
REASONS
1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly.
2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support(White coloured)
3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel
4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top.
5. Target & SL levels mentioned @ chart.
Safer SL - Day close above 4500
Let's wait and watch how it moves!!!!
Note - Just Sharing my view....not a tip nor advice!!!
Ghi chú
Very narrow range!!! We can expect a big volatile move!!!Also there is H&S in 1 hr timeframe!!!
Ghi chú
h&s breakdown with good volume support!!!4240 can be 1st target!!!
Giao dịch đang hoạt động
Above said ,h&s target achieved!!! with expected volatility In daily timeframe , H&S alike pattern breakdown again!!!
Giao dịch đang hoạt động
setup intact!!!
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