Dr. Reddy’s Laboratories Limited is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).
SHORT TERM PERSPECTIVE
|Company||Dr. Reddy’s Laboratories Limited|
|Recommendation||BUY at CMP|
|Stop Loss (SL)||Rs.3670|
|Time Horizon||2-4 Weeks|
Intermediate and long term trend is up in this stock. After a mild correction stock is trying to reverse from 50 day EMA which has acted as a major support in previous days on daily chart, clearly showing buying interest among the participant on every dip. Also formed higher top higher bottom formation which is a bullish pattern in nature. Increasing in volume and positive diversion from oscillator indicate that stock can move higher from current level so one can initiate a buy position at CMP with a stop loss of Rs. 3670 (on closing basis) with target price of Rs. 4150-Rs. 4250. Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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