Sudarshan Sukhani, s2analytics.com advises traders to avoid Dr Reddys.
Sukhani told CNBC-TV18, “Dr Reddys was giving the impression that it was ready to make lifetime new highs, but that never came about. Two-three days can make a lot of change in chart patterns. At this point Dr Reddys is no longer a buying opportunity, not a buy on dips trade. It is at best a avoid.”
On Feb 15, Dr Reddys Laboratories closed at Rs 1,818.05, down Rs 60.10, or 3.20%. It has touched an intraday high of Rs 1,875 and an intraday low of Rs 1,811.40.