Dr Reddy’s holds below Rs 1,253 as Q2 results arrive

Dr Reddy’s ended at Rs 1,229.5 on October 23, 2026, below the Rs 1,253 resistance, with higher lows in place and Q2 results out after market hours. Dr. Reddy’s Laboratories Limited [

] closed at Rs 1,229.5 on October 23, 2026, down 0.77%, after another test of the Rs 1,253 resistance. The stock has stopped near this level several times this month. Q2 results came after market hours the same day. Revenue fell 1.5% to Rs 8,671 crore, and net profit fell 36% to Rs 925 crore. The operating margin was 20.6% against 26.7% a year ago. The chart shows flat resistance with rising lows, often called an ascending triangle. Lows rose from Rs 1,101 in July to about Rs 1,132 in August and Rs 1,167 in October. Price is squeezed between a rising floor and a fixed ceiling. The trend is a slow recovery from the July low. Rising lows suggest dip buying, while repeated stalls near Rs 1,253 suggest supply. What next: a close above Rs 1,253 may confirm a breakout. A close below Rs 1,167 may end the rising lows. The reaction to results on Monday, October 26 may set the direction. Conclusion: The structure is improving but stays unconfirmed until Rs 1,253 is cleared. Disclosure & Disclaimer: I and my family members do not hold any position in the stock discussed. This content is provided solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell any security. Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.