Dr Reddy’s holds 1,191 support inside narrow Ichimoku range

Dr. Reddy’s Laboratories closed at ₹1,197 after recovering from ₹1,172 intraday. The latest green candle shows buyers defending the lower end of the recent range, but the stock is still moving inside a compressed Ichimoku setup rather than a clear directional trend.

is above the Kijun-sen near ₹1,191 but remains below the Tenkan-sen at ₹1,210. The cloud is narrow around ₹1,191–₹1,201, reflecting a period of indecision after the sharp correction from the ₹1,400 zone. ₹1,191 is the immediate support, followed by ₹1,170. A sustained close above ₹1,210 would improve short-term momentum and can open room towards ₹1,240. A break below ₹1,170 would weaken the range structure and bring the recent ₹1,130 lows back into focus. Product launches, regulatory execution and pricing in overseas markets remain key drivers for the pharmaceutical sector.