#drreddy Dip is a buy opportunity
Scrip Name - Dr reddy Labs
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Techincal Analysis:
1. Formed double bottom at the important support.
2. Decisive breakout from the trend line resistance.
3. My small understanding towards market structure and price action.
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How to trade:
1. Buy at dips if risk reward is favorable with Stop loss 4390.
------------or----------
2. If dips and sustains above recent high above 4590 then go long with SL recent low.
----------or--------------
3. If dips and forms a bullish structure in lower TF i.e. in 15 min, then buy with the SL of the low of the structure.
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Targets
TP1 - 4700
TP2 - 4850
TP3 (POSITIONAL) - 5440
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If you do like my ideas then give a like, comment and follow me to keep me motivated.
Cheers and happy trading!
Regards,
Sharma Yogesh
~~~~~~~~~~~~~~
~~~~~~~~~~~~~~
Techincal Analysis:
1. Formed double bottom at the important support.
2. Decisive breakout from the trend line resistance.
3. My small understanding towards market structure and price action.
----------------------------------
How to trade:
1. Buy at dips if risk reward is favorable with Stop loss 4390.
------------or----------
2. If dips and sustains above recent high above 4590 then go long with SL recent low.
----------or--------------
3. If dips and forms a bullish structure in lower TF i.e. in 15 min, then buy with the SL of the low of the structure.
------------------------------------
Targets
TP1 - 4700
TP2 - 4850
TP3 (POSITIONAL) - 5440
===============================
If you do like my ideas then give a like, comment and follow me to keep me motivated.
Cheers and happy trading!
Regards,
Sharma Yogesh
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.