Dr. Reddy's Laboratories has recently formed a head and shoulders pattern on its price chart. The stock is currently trading near neckline of this pattern. A potential breakdown below the neckline could present a favorable opportunity for a sell trade, indicating a possible downward movement in the stock's price. Conversely, if the price finds support from the marked zone near the neckline, it could signal a potential opportunity for a long trade with an upside potential, targeting the indicated levels.
