DRREDDY POSSIBLE MOVE ANALYSIS
DRREDDY
@ 4437.95 - LONG & SHORT TGTs and SL are in the Chart. FOR BOTH BREAKOUT or BREAK DOWN, STRONG CLOSING CANDLE IS MUST. Am bullish here. This idea is for Educational purpose.
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After Breakout @ 4521on 28march2023.
The Buyers took charge and TGT1 4751 achieved on 10April2023.
Then the TGT1 acted as a pivot/support(See24/25 april2023) to achieve TGT2 4942 on 02May2023. Hence TGT1 & TGT2 done and trade is closed.
One point to note here is it is always good to book profits(full / partial) at every targets. In this trade, After struggling at TGT2 range, we saw a nice drop in price.
The Buyers took charge and TGT1 4751 achieved on 10April2023.
Then the TGT1 acted as a pivot/support(See24/25 april2023) to achieve TGT2 4942 on 02May2023. Hence TGT1 & TGT2 done and trade is closed.
One point to note here is it is always good to book profits(full / partial) at every targets. In this trade, After struggling at TGT2 range, we saw a nice drop in price.