Well investor money was being pumped in to the 'defensive' Pharma sector for the past few weeks and it seems its leader DR REDDY's has run its course.
On the daily charts it has shown some sign of 'fatigue' .. Investors in this stock may want to book profits or at least tighten their exit price level near to Rs 1250/-
Short term traders may want to sell below Rs 1270 with stoploss placed at Rs 1305 for a short term down target of Rs 1220... (as trend is up, wait for break below 1270)
The sector we analysed in ITG group meeting is surely doing good ... !
Happy Trading !
CA Rajiv D Khatlawala
ValueTrade Academy
www.investogyan.com
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