Buy Dr. Reddy's Laboratories, target Rs 2,838: Jay Thakkar
Buy Dr. Reddy's Laboratories at a price target of Rs 2,838 and a stop loss at Rs 2,690.
By ETMarkets.com |
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Jay Thakkar of Anand Rathi has a buy call on Dr. Reddy's Laboratories with a target price of Rs 2,838.
The current market price of Dr. Reddy's Laboratories is Rs 2,777.65.
Time period given by the analyst is two weeks when Dr. Reddy's Laboratories price can reach the defined target.
Jay Thakkar recommended keeping a stop loss at Rs 2,690.
"The stock has provided a breakout from the symmetrical triangular pattern with a nice buy crossover in its momentum indicator MACD. The stock has crossed its crucial swing resistances as well as short term moving averages, hence we recommend buying this stock," Thakkar said.
Dr. Reddy's Laboratories, incorporated in the year 1984, is a largecap company (having a market cap of Rs 45,649.87 crore) operating in the pharmaceuticals and health care sector.
The current market price of Dr. Reddy's Laboratories is Rs 2,777.65.
Time period given by the analyst is two weeks when Dr. Reddy's Laboratories price can reach the defined target.
Jay Thakkar recommended keeping a stop loss at Rs 2,690.
"The stock has provided a breakout from the symmetrical triangular pattern with a nice buy crossover in its momentum indicator MACD. The stock has crossed its crucial swing resistances as well as short term moving averages, hence we recommend buying this stock," Thakkar said.
Dr. Reddy's Laboratories, incorporated in the year 1984, is a largecap company (having a market cap of Rs 45,649.87 crore) operating in the pharmaceuticals and health care sector.
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