EquityPandit’s Outlook for Dr. Reddy for the week (May 13, 2019 – May 17,2019)
BSE: 500180| NSE: DRREDDY| ISIN: INE040A01026| SECTOR: PHARMA
Stock closed the week on positive note losing -1.17%
Week High: 2,942.70
Week Low: 2,877.00
Week Range: 65.70 Points
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2860– 2850 levels, Minor resistance on the upside is capped around 2950– 2960 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 2730– 2750 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 3050-3070
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the week as 3050– 3070 on upside and 2730– 2750 on downside.