R1DY34 trade ideas
DrReddy, 200 DMACovered this stock earlier when price made a bottom. Pharma Industry is showing signs of recovery after of 4 years of lull. The stock made a steep move to cross 200 DMA and then corrected towards 200 DMA. Now if 200 DMA provides support, price may see the swing high. 50 DMA may give an upward cross to 100 DMA, will boost bulls. Immediate resistance lies at 2300 since Calls at this strike is the highest.
Downward Slopping Wedge break out . Looks good above 2335.Downward Slopping Wedge break out . Looks
good above 2335.
Dr. ReddyBullish engulfing candle
Long above 2276 for targets of 2336 with stop loss at 2244
Published views are for educational purpose only
DrReyySharp rise in almost all major Pharma stocks. So some correction is good. In case of this stock, price may correct towards 200 DMA.
DrReddy, 200DMAThis is one more stock in Pharma segment which is showing sign of trend change. Chart speaks volumes. Earlier times also it faild to hold above 200 DMA and crashed. At present times, the difference is formation of a support base and then moving up to cross 200 DMA. Keep a close watch at 200 DMA.
MY new setup..still working on price time relationshipcheck it out...if u find useful.lemme knw..if u want to add or edit something..punce some keys in the comment section
DRREDDY 15 min chartsafter formation of an "V"....small channel ..then small channel broke itself...seems as if there is an formation of a bigger channel..which can take drreddy to an tgt - 2051...1963 has acted as an good support and resistance many times...however if 1963 breaks ..my view turns bearish with an tgt of 1894.
drreddy 15 min anylsisafter formation of an "V"....small channel ..then small channel broke itself...seems as if there is an formation of a bigger channel..which can take drreddy to an tgt - 2051...1963 has acted as an good support and resistance many times...however if 1963 breaks ..my view turns bearish with an tgt of 1894.
DRREDDY ShortOne can short drreddy below 2055 keeping stop loss of 2091 , 1st target is 1995, 2nd target is 1946.. one can also buy april 2000 put around 45-50.... just my view. do it on your own risk.......
DRREDDY buybuy call has been generated , one can buy above 2175 keeping stop loss of 2090, 1st target can be 2218, 2nd target can be 2262. ... do it at your own risk......
Dr Reddy interesting to watch above 2245Dr Reddy broke cloud resistance and now on verge of Double
Bottom pattern break out above 2245.
DRREDDY pivot pointDRREDDY pivot point.. Get clue from pharma sector .. worth a contrarian buy as overall market about to go risk off for coming months. Look for false break to 2200 where gap exist from 8 December
#DRREDDY BUY SETUP There is no consistency in the concept of Buy Low, Sell High. If you want to be successful in the markets you must Buy High, Sell Higher...
#DREDDY BUY SETUP NOW *******************DAILY FINANCIAL WISDOM: "A year from now you will have wished you had truly started learning to trade today..."
Indian Pharma Sector Stocks - It Is All About RotationSo what's ailing Indian Pharma sector stocks? Those who really looked like on steroids are suddenly behaving like they have swallowed over dose of laxatives. Few environmental changes are to blame,
1. ) Rotation
Yes folks, those who rode it from Rs. 100 a stock to 1500 are taking profit and putting that money to some other sector where they believe market it going to perform well. Look at Reliance, a single stock has gobbled up many thousand crore in its rally. From where that money came to buy such stocks in other sector? Of course some from new gullible SIP investors ( more on that in upcoming post :) ) etc and some from rotation.
2. ) Change In Tone of Governments
Still it's difficult to justify the quantitative effect on Pharma stocks but certainly this is also a factor which will keep on weighing the stocks in future. Many countries are being rhetoric about fixing the drug prices and that is headline risk as well as bottom line risk.
3. ) Too Much Good Has Been Priced In
How much is too much?! ;) That question is never going to have perfect answer in stock market because it's all about psychology. But in general, when anybody look at the chart and say, wow what a rise of few hundred or thousand percent gain ! then it is time to be cautious. Because even though fundamentals are supportive for such rise, market needs confirmation and will wait to digest such meteoric rise.
We had great trades in Pharma stocks like,
Dr Reddy
Cipla
Glaxo
Lupin
Auropharma
Divis Laboratories etc..
But now it is time to pause and let them collapse until they become attractive again !
DRREDDY LOOK BULLISH IN MEDIUM TERM -27/7/2017DAILY FINANCIAL WISDOM: Amateur traders focus on rewards. Professional traders focus on risk..
