Dr Reddy’s Laboratories – DRREDDY Elliott Wave Technical Analysis
Dr Reddy’s Laboratories Elliott Wave technical analysis
Function: Bullish Trend.
Mode: Impulsive.
Structure: Navy Blue Wave 1.
Position: Gray Wave 3.
Direction next higher degrees: Navy Blue Wave 1 (Started).
Details: Gray Wave 2 appears completed; Navy Blue Wave 1 of Gray Wave 3 is now active.
Wave cancel invalid level: 1018.
The daily chart analysis signals strong bullish momentum in Dr Reddy’s Laboratories, indicating the stock is in an advancing phase. The current wave structure shows Navy Blue Wave 1 progressing within the broader Gray Wave 3, following the end of Gray Wave 2’s corrective movement.
This setup marks the beginning of a potentially powerful upward phase. The impulsive…
