Dr. Reddy’s Laboratories – Trendline Breakout WatchDr. Reddy's Laboratories Ltd.NSE:DRREDDYythakkar23🔍 Chart Overview Dr. Reddy’s has been trading inside a broad consolidation range after a prolonged correction, while respecting a descending trendline from ~₹1,400 levels. Price is now approaching a key resistance confluence near ₹1,330–₹1,350, making this a crucial breakout zone. 📈 Key Observations ✅ Descending Trendline Resistance Multiple touches since early 2025 Current price (~₹1,336) sitting just below resistance ➡️ Breakout attempt in progress ✅ Range Structure Price oscillating between ₹1,200 – ₹1,350 Current move is toward range high resistance ✅ Moving Average Alignment Price above short-term MAs Testing 100/200 SMA zone → key trend reversal signal if sustained ✅ RSI Strength RSI ~60 → bullish momentum building No overbought signal yet → room for upside 🚀 Trade Setup ✅ Bullish Breakout Setup Entry: Above ₹1,350 (strong close + follow-through) Targets: ₹1,400 / ₹1,450 / ₹1,500 Stop Loss: Below ₹1,280 ❌ Rejection Scenario Failure near resistance → continuation of range Downside targets: ₹1,280 → ₹1,220