Stock of the day : Dr. Reddy's Laboratories Ltd For Target Rs. 236 - Religare Broking
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Dr. Reddy's Laboratories Ltd
* Technical indicators visualize weaker setup in the pharma space, where DRREDDY reflects the same weakness.
* Stock has recently closed below its support and important moving average (100EMA).
* It has also faced multiple resistance at 50% Fibonacci retracement of its primary corrective trend.
* In continuation of the breakdown from the rising trend line, bias remains negative.
* Traders are recommended to comply with the trend in the mentioned range that promotes selling pressure to continue.
Buy Dr. Reddy's Laboratories Ltd CMP 149 Range 145-150 SL 103 Target 236
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