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DR REDDYS LADRN

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R1DY34 trade ideas

Dr.Reddy's to move into the INR6000-6200 zone in Wave V of 3This Pharma giant has outperformed Nifty 50 in the entire 2023. Starting from Jan.2023 the stock has been making clean and strong impulse moves and easily beating the index returns for the entire year. The stock completed wave I of 3 between Jan-May 2023 and completed the wave III of 3 subsequently between May-Aug 2023. Between Aug-Oct 2023 the stock was in a complex wave IV correction and came out of the same with wave i of V of 3 in month of Nov. The stock now has a minimum of three legs pending to the upside in order to complete the wave V of 3. The remaining legs should be considered as minor sub-divisions of the Wave V itself. The stock is projected going into the INR 6000-6200 zone from current levels in the coming moves. On the downside the low of INR 5471 remains a crucial support. At current levels the stock offers an attractive RR of more than 1:3. Note*- Views are based on personal observations and opinions. Do your own research before making any trading/investing decisions.
NSE:DRREDDYLong
by neeraj_2_sharma
Trying to make a bottom Dr.Reddy's LabDr Reddy's Laboratories Ltd (DRL) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services &Active Ingredients, Global Generics and Proprietary Products. Dr Reddy's began as a supplier to Indian drug manufacturers, but it soon started exporting to other less-regulated markets that had the advantage of not having to spend time and money on a manufacturing plant that would gain approval from a drug licensing body such as the U.S. Food and Drug Administration (FDA).Its major markets include - USA, India, Russia & CIS countries, and Europe. Dr Reddy Limited CMP is 5478. The Negative aspects of the company are FIIs are decreasing stake, MFs are decreasing stake and Promoter Holding decreasing. The positive aspects of the company are No debt, zero promoter pledge, improving annual net profit and improving cash from operations. Entry after closing above 5527. Targets in the stock will be 5642 and 5567. Long term targets in the stock will be 5847 and 5992. Stop loss in the stock should be maintained at closing below 5270. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:DRREDDYLong
by Happy_Candles_Investment
Bearish Trendlines in DRREDDY's Hourly and MACD Charts: A PotentIntroduction: In technical analysis, trendlines are one of the most popular and widely used tools for identifying and analyzing market trends. A trendline is a line drawn on a chart to connect a series of highs or lows, and it is often used to identify the overall direction and strength of a trend. In this blog post, we will be discussing the potential bearish implications of trendlines in the hourly and MACD charts of DRREDDY, a leading Indian pharmaceutical company. Hourly Chart Trendline: The hourly chart of DRREDDY shows a bearish trendline that is acting as support has gap from the price of Rs.5430. This trendline that connects a series of highs, and it is often used to identify the overall direction and strength of a trend. In this case, the trendline is acting as support, which suggests that the price may bounce off this level and continue to decline. MACD Trendline: The MACD (Moving Average Convergence Divergence) oscillation is a popular indicator that is used to identify changes in the strength, direction, momentum, and duration of a trend. The MACD oscillation is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. The resulting MACD line is then plotted on a chart, and it is often used in conjunction with the MACD histogram, which is a visual representation of the difference between the MACD line and the signal line. In the case of DRREDDY, the MACD oscillation is showing a bearish trendline that is acting as support at the price of Rs.5430. This trendline is a horizontal line that connects a series of highs, and it is often used to identify the overall direction and strength of a trend. In this case, the trendline on MACD was acting as resistance became support, which suggests that the price may bounce off this level and continue to decline. Conclusion: In conclusion, the bearish trendlines in the hourly and MACD charts of DRREDDY suggest that the price may continue to decline in the near term. The hourly chart trendline is acting as support and the MACD trendline is also showing a bearish trendline that is acting as support at the same level. These trendlines are important technical indicators that can help traders and investors identify potential areas of support and resistance, and they can be used in conjunction with other technical and fundamental analysis to make informed investment decisions. Happy trading.
NSE:DRREDDYShort
by stocktechbot
RDY: Top candidate to go long indian shares...$RDY has a very strong monthly trend that is currently active, and also a strong daily chart, showing a trend is now active. We can go long risking a fall under the red line on chart, if aggressive, following the daily signal but aiming to capture the monthly trend as well. This would be a huge reward to risk position if it were to pan out favorably for us. I see the $INRUSD chart as significantly strong, and similar to the period from 2016 to 2018, and $RDY has a good valuation here, as well as substantial growth potential going forward. Free cash flow yield is 7.93%, EPS growth is positive in the last quarter and in the last year, and they are not too indebted, the company certainly has good liquidity and sales are steadily albeit modetly growing. Best of luck, Ivan Labrie.
NYSE:RDYLong
by IvanLabrie
DRREDDY Outperforms Pharma Peers and ETFs In the dynamic world of pharmaceutical investments, DR. REDDY'S Laboratories (NSE: DRREDDY) (NYSE: RDY) stands out as a notable performer, surpassing Jazz Pharmaceuticals plc (JAZZ), Sarepta Therapeutics, Inc. (SRPT), and the iShares U.S. Pharmaceuticals (IHE) and SPDR S&P Pharmaceuticals (XPH) ETF’s, In terms of background, DR. REDDY'S Laboratories Ltd. (NSE: DRREDDY) (NYSE: RDY) is an Indian pharmaceutical company that specializes in both generic and proprietary pharmaceuticals. The company conducts research, development, manufacturing, and marketing of a wide spectrum of pharmaceutical products across various therapeutic areas. Dr. Reddy's has a global presence and is known for its innovation and contributions to the pharmaceutical industry, serving patients' healthcare needs worldwide. Over the course of the last three months DRREDDY share price increased 22% and RDY by 20%, which outpaces the performance witnessed in leading pharma ETFs like IHE (+8.9%) and XPH (+9.1%). Additionally DRREDDY’s share price increase overperformed the two leading pharma companies JAZZ (+12%) and SRPT (-2%) that are similarly valued. This analysis aims to unravel the key factors contributing to DRREDDYS' outperformance compared to the ETFs mentioned. Here are some of its fundamental metrics that seem to be working to distinguish DRREDDY’s from its sectoral peers Valuation Metrics: DRREDDYS' price-to-earnings (P/E) ratio, at 19.65, is relatively higher compared to the ETFs, indicating that investors have greater growth expectations for the company. Earnings Growth: DRREDDYS' robust earnings per share (EPS) of 283.95 is a testament to its profitability on a per-share basis, potentially driving its stock performance while compared to JAZZ’s -1.61 and SRPT’s ​​-10.41. Dividend Yield: DRREDDYS offers a forward dividend yield of 0.72%, lower than the ETFs (IHE: 1.91%, XPH: 1.29%) Risk: DRREDDYS maintains a beta of 0.32, indicating lower volatility compared to the ETFs (IHE: 0.56, XPH: 0.59) and the companies (JAZZ: 0.73, SRPT: 0.98) Dr. Reddy's Laboratories' exceptional performance can be attributed to its strategic initiatives. For example, the launch of Saxagliptin and Metformin Hydrochloride Extended-Release Tablets in the U.S. highlights its commitment to innovation and market expansion. Participation in sustainability initiatives like the FE-ECube Study aligns with global environmental trends. And also, its involvement in new therapies like CAR-T cell treatment reflects their approach towards healthcare innovation. These are only some examples of strategic moves that collectively contribute to strong financial performance compared to pharmaceutical ETFs (IHE and XPH) and companies (JAZZ) and (SRPT). The company’s financials presented on this analysis showcase a company with very bullish growth prospects. As Dr. REDDY’s continues to forge ahead with its strategic initiatives and dedication to their patients, it remains a compelling choice for investors seeking a strong performer in the pharmaceutical industry, poised for sustained growth and innovation.
NSE:DRREDDYLong
by jonah_garber