EquityPandit’s Outlook for Dr. Reddy for week (July 06, 2015 – July 10, 2015):
Dr Reddy closed the week on positive note gaining more than 2%.
As we have suggested last week that if the stock manages to cross above the levels of 3560 we may see stock moving towards the levels of 3650 and this week the stock hit the high of 3610 levels.
If the stock manages to close above the levels of 3610 we may see stock moving towards the levels of 3700 where upward sloping trend-line is positioned.
Support for the stock lies in the zone of 3500 where short term moving averages are positioned.
Broad range for the stock is seen from 3500 – 3550 on downside to 3650 – 3700 on upside.