June 27, 2016
Dr.Reddys (NSE Cash)
BUY
` 3080
` 3225 - 3200
` 3460
5-10 sessions
3132
3080
3283
3423
Bullish
Daily Chart
Source: Falcon (Time - IST 09.47)
We have seen long consolidation in the stock after a massive correction from all time high during the
month of November 2015. After forming a strong base around the 2800 mark, the stock is now
showing early signs of strength.
The daily chart depicts a breakout from the ‘Contracting Triangle’ pattern around 3200.
In addition, the daily ‘RSI-Smoothened’ momentum oscillator is positively poised; providing credence
to the breakout.
Hence, we advise traders to buy this stock from current level to a decline up to ` 3200 for a target of `
3460 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be kept at ` 3080.
June 27, 2016
Dr.Reddys (NSE Cash)
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Target Achieved
Source: Angel Research
Research Team Tel: 022 - 40003600 (Extn.6552)
E-mail: [email protected]
Website: www.angelbroking.com
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