DRREDDY–Weekly Chart Analysis

The stock is currently trading near ₹1,322 and is once again testing the long-term descending trendline resistance that has capped every rally since 2023. This resistance lies in the ₹1,345–₹1,348 zone and represents the key decision point for the next move.

Bullish Scenario (if breakout holds)
First method of calculation: ₹1,379.70, 1398.25, 1415-1421 → derived from prior swing highs.

Second method: ₹1,705→ based on a range of neckline to head of inverted head & shoulder. This is not a valid setup.

Third method: ₹1,472, 1,530, 1585→ calculated as fib extension levels.

Bearish Scenario (if rejection occurs)
Support: ₹1284, 1245, 1200 as immediate downside levels.

Momentum
RSI is around 58, showing a bullish curve without overbought conditions, suggesting momentum supports an upside breakout.