AnandRathi is bullish on Dr Reddys Labs and has recommended to buy the stock on dips for the targets of Rs 2150-2320 in its December 27, 2012 research report.
“Dr Reddys Labs, after 24 months of consolidation looks good for higher levels and the stock is also making higher tops and higher bottoms on weekly charts and is also within a consistent and steady uptrend and holding the gains on monthly charts. The stock is trading above the 50DMA at Rs.1779, 100DMA at Rs.1729 ,200DMA at Rs.1700, 200WMA at Rs.1389. Therefore we advise accumulating the stock at lower levels too for upside targets of Rs.2150 and Rs.2320 in the next 6 months or so. We recommend buying the stock on all dips,” says AnandRathi research report.
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