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Dr. Reddy's Laboratories Limited is showing a strong development within a rising trend channel in the medium to long term. Rising trends indicate that the company experiences positive development and that buying interest among investors is increasing.
The price has risen strongly since the positive signal from the double bottom formation at the breakthrough the resistance at 2705. The objective at 2907 is now met, but the formation still gives a signal in the same direction.
There is no resistance in the price chart and further rise is indicated.
In case of a negative reaction, the stock has support at approximately 2510 and the same can be kept as a long term stop loss for the stock.
Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the stock. The stock is overall assessed as technically positive for the medium to long term.
One can keep an eye on stock crossing and sustaining above 3075 to see it going for new horizons to 3150,3250,3500 and higher levels as crossing above 3075 means that the stock will get into a new leg upmove. You can check share market trade tips here.
The price has risen strongly since the positive signal from the double bottom formation at the breakthrough the resistance at 2705. The objective at 2907 is now met, but the formation still gives a signal in the same direction.
There is no resistance in the price chart and further rise is indicated.
In case of a negative reaction, the stock has support at approximately 2510 and the same can be kept as a long term stop loss for the stock.
Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the stock. The stock is overall assessed as technically positive for the medium to long term.
One can keep an eye on stock crossing and sustaining above 3075 to see it going for new horizons to 3150,3250,3500 and higher levels as crossing above 3075 means that the stock will get into a new leg upmove. You can check share market trade tips here.
