has witnessed a fresh breakout from a consolidation range on November 24, with a noticeable rise in the volume. The chart pattern and positioning of oscillators are pointing towards a sharp up move in the near future. We advise creating fresh longs in the given range.
Buy Dr. Reddy's Laboratories Limited
: Rs 4,910-4,920
The pharma pack looks set for a rebound after three months of consolidation. Among the stocks, Dr. Reddy’s has also witnessed decent retracement from its record high and formed a base above the support zone of the medium-term moving average (100 EMA) on the daily chart. Indications are in the favor of a swift rebound soon. We thus advise creating fresh longs within the mentioned zone.
: Rs 376-379
We’re seeing fresh traction in the defensive pack but participation is restricted to a select few so far. Marico
has been consolidating in a range of 340-380 zone for the last two months and trading on the verge of a breakout now. Traders shouldn’t miss this opportunity and create fresh longs in the given range.