Stock analysis Dr. Reddy's Laboratories Limited DRREDDY

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Moving Averages for Dr. Reddy's Laboratories Limited

5Day Average: 6009.01
12Day Average: 6102.43
20Day Average: 6119.3
50Day Average: 6237.2
100Day Average: 5992.07
150Day Average: 5832.59
200Day Average: 5758.52

DRREDDY Indicators & signals

Indicator MACD (12,26,9)

6075.25, 6134.96, -36.54
Indicator MACD is in negative zone

Indicator ADX (14)

18.61, 17.48, 25.47
Indicator ADX is indicating that momentum is weak.
Momentum is towards selling.

Indicator RSI (14)

Current RSI is: 51
Indicator RSI is indicating buying momentum and stock might rise.

Recent prices of DRREDDY Dr. Reddy's Laboratories Limited are as follows: Daily volume is divided by 10 day averaged volume

Date	Close	Range	Change %	Volume
19 Fri Apr 2024	5942.85	5880.80 to 6000.00	-0.24%	0.98 times
18 Thu Apr 2024	5957.15	5937.65 to 6127.50	-1.54%	1.71 times
16 Tue Apr 2024	6050.35	5985.05 to 6073.85	0.66%	1.17 times
15 Mon Apr 2024	6010.85	5982.25 to 6073.20	-1.2%	0.77 times
12 Fri Apr 2024	6083.85	6075.00 to 6189.00	-1.2%	1.13 times
10 Wed Apr 2024	6157.90	6145.00 to 6199.90	-0.16%	0.56 times
09 Tue Apr 2024	6167.90	6155.00 to 6230.20	-0.11%	0.37 times
08 Mon Apr 2024	6174.55	6135.05 to 6226.75	-0.08%	0.81 times
05 Fri Apr 2024	6179.30	6140.00 to 6305.85	0.6%	1.55 times
04 Thu Apr 2024	6142.50	6047.50 to 6175.00	0.3%	1.14 times
03 Wed Apr 2024	6124.40	6112.00 to 6268.00	-1.81%	0.77 times
02 Tue Apr 2024	6237.55	6206.00 to 6268.95	-0.2%	0.68 times

Technical analysis forecast for Dr. Reddy's Laboratories Limited Stock is that its in a downtrend for shortterm, and I will avoid taking a BUY or a LONG trade in this stock. Look for opportunities to sell or SHORT Dr. Reddy's Laboratories Limited DRREDDY at this time. Stock is falling and might fall more.

It appears as if Dr. Reddy's Laboratories Limited DRREDDY gave a large move recently.

Stock of Dr. Reddy's Laboratories Limited (DRREDDY) is trading below an important moving average line, and it has been below this line for quite some time now. This is not a good sign, stock might keep falling and stock might move lower...

Although my analysis for Dr. Reddy's Laboratories Limited is bearish for shortterm, but stock is in heavy over sold zones and there are high chances of some recovery tomorrow. You might want to buy the stock tomorrow in intra day with a stoploss of 5938.6, for a target of 6036.2 or 6117.61

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