EquityPandit’s Outlook for Dr. Reddy for week (July 13, 2015 – July 17, 2015):
Dr. Reddy closed the week on positive note gaining more than 4.5%.
As we have mentioned last week that if the stock manages to close above the levels of 3610 we may see stock moving towards the levels of 3700 and the stock hit the high of 3770 during the week.
The stock can face minor resistance around the levels of 3810 where earlier high is positioned.
Support for the stock lies in the zone of 3650 to 3700 where short term moving averages are positioned.
Broad range for the stock is seen from 3670 – 3700 on downside to 3800 – 3850 on upside.