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Unite Technologies Financial

24th Apr · SEBI-Registered Analyst

Technical Analysis Dr. Reddy's Laboratories

The stock

DRREDDY
is chart for is showing very strong bullish momentum. After recovering from a sharp dip and going through a period of choppy consolidation the stock has recently fired up with serious strength. Strong Breakout the stock has formed a massive bullish green candle breaking cleanly out of its recent trading range and crossing the 1300 level. The current price is sitting around 1325.90. Support the previous resistance zone around 1280 to 1300 should now act as a solid immediate support base. Resistance the next immediate supply zone looks to be around the 1360 mark. If it clears that it has the potential to test the previous swing highs near 1400 to 1440. For short-term buyers this high-volume breakout offers a solid fresh entry point for swing trades aiming for immediate targets between 1360 and 1400. Just ensure you keep a strict stop loss below the 1280-1300 support zone to manage risk. For existing holders the best move is to hold the position and ride this strong bullish momentum. You should trail your stop loss upward to the 1300 level to protect your accumulated profits. Overall the setup remains highly positive for both as long as the price sustains above the recent breakout level. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.

#Today’sTradingSetup#EquityResearch#TechnicalViews
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