Daily Chart Analysis of

DRREDDY

Technical Chart Analysis of DRREDDY

DRREDDY is showing signs of recovery after a recent consolidation. The daily chart indicates that price has moved above its shorter-term moving averages (20/50 EMA), which suggests that some buying interest is returning. Even though the trend had been weak earlier (lower highs, lower lows), the stock managed to form a higher low recently, showing that downside momentum may be easing. Key resistance lies around the ₹1,320-₹1,340 zone; sustaining above this area would be a positive sign for further upside. Support zones are forming in the ₹1,260-₹1,240 region; a fall below these could put pressure on the recovery. Indicators: RSI is moderately positive, MACD has shown signs of flattening and possibly preparing for a crossover, but is not yet strongly bullish. Volume confirmation in coming sessions will be important to validate the move.