Buy Dr Reddy’s Laboratories, target Rs 2900: Aditya Agarwal

Answer: Nostrum (File imagDivis Laboratories share price performance in FY18: Up 75 percent | FY19: Up 56 percent | FY20: Up 17 percent.e)

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Aditya Agarwal

After confirming its breakout from broad “Descending Triangle’ pattern, Dr Reddy’s Laboratories consolidated in a range and formed a triangle pattern on the daily chart.

During the last week, the stock confirmed its breakout from symmetrical triangle pattern, however, the follow-up buying was missing, as a result, it saw minor pullback during the current week.

On Thursday, the stock resumed its up move and eventually ended at highest point post-July 27, 2017. The daily RSI (14) entered inside the 60 level which supports our hypothesis.

Hence, we believe that the impact of Descending Triangle pattern will be seen in the coming weeks; therefore, we recommend traders to buy this stock in the range of Rs 2650 to 2625 with a price target of Rs 2900 and a stop loss placed below Rs 2520.