EquityPandit’s Outlook for Dr. Reddy for the week (May 27, 2019 – May 31,2019)
BSE: 500180| NSE: DRREDDY| ISIN: INE040A01026| SECTOR: PHARMA
Stock closed the week on negative note losing -3.05%
Week High: 2,748.10
Week Low: 2,588.05
Week Range: 160.05 Points
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2540– 2550 levels, Minor resistance on the upside is capped around 2700- 2705 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 @ 2330– 2320 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 @ 2830– 2835
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the week as 2830– 2835 on upside and 2330– 2320 on downside.