Technical View Dr. Reddy’s Laboratories

The stock

is showing a short-term recovery after a sharp correction from the ₹1380–1400 zone. Price has bounced from around ₹1110–1120 and is now making a gradual recovery indicating buying interest at lower levels. However the broader structure is still range-bound to mildly bearish until the stock crosses its recent resistance zones. Support the immediate support is around ₹1160–1150 where recent buying has emerged. Below this, ₹1120–1,100 is a strong support zone. A decisive close below ₹1100 would weaken the setup significantly. Resistance the immediate resistance is around ₹1220–1240. A strong breakout and sustained close above this zone can open the way toward ₹1280–1300. Above ₹1300 the next major resistance comes near ₹1350–1380. NEWS Dr. Reddy’s Laboratories received U.S. FDA approval for its rituximab biosimilar, strengthening its position in the complex biologics segment. The drug will be exclusively commercialized in the U.S. by Fresenius Kabi, providing a strong commercialization partner. The approval also validates Dr. Reddy’s biologics development and manufacturing capabilities. Outlook: Positive for the company’s long-term U.S. pipeline and growth prospects while the near-term stock outlook remains dependent on the ₹1220–1240 resistance breakout.