Friday, June 21, 2013

DR Reddy

DR Reddy

DR Reddy corrected as we expected. Stock now retracing the fall. Stock may see 2134 to 2154 where one can again go short on the stock with SL at 2170 to see more lower levels. Stock seems to be in A wave. There is more downside in the stock as its 200 DEMA is too far from the stock price.

Positional traders can take short positions in next month and stay free.

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