Dr. Reddy & Lupin went up today by around 3%. This is one of the best closing for these two shares. After IT, Pharma is the heavily beaten down sector due to issues around the FDA investigations. These two shares were trading around the 52 weeks low, both the stocks made 52 week’s low last week.Read more
Dr.Reddy’s Laboratories Ltd (NSE:DRREDDY) is one of the heavily beaten down stocks in the turmoil. In just three months time, the stock went down from 52 weeks high of 4386 levels to 52 weeks low of 2750. Over the last three month the stock was continuously making lower low, but the last week was different for Dr. Reddy.Read more
On Friday Nifty 50 have formed indecisive pattern in the Candlestick chart. The entire candle was within the previous day’s candle body. It had very small lower and upper shadow. Nifty is still trading below the Island created on Jan 7. The Island level of 7706 may act like a resistance for short term.
Nifty also breaks the multi-year trend line in the logarithmic chart. The trend line from 2008 bottom is current at 7595. Nifty is just closed above that level. It is also crucial to watch for those levels.Read more