EquityPandit’s Outlook for Dr. Reddy for the week (Dec 16, 2019 – Dec 20, 2019)

DR. REDDY:

BSE: 500180| NSE: DRREDDY| ISIN: INE040A01026| SECTOR: PHARMA

Stock closed the week on negative note losing –2.40%

Week High: 2842.00

Week Low: 2773.00

Week Range: 169 Points

DRRDDY Ltd.

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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2739 levels, Minor resistance on the upside is capped around 2952 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 @ 2679 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 @ 3010.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the week as 3010 on upside and 2675 on downside.