AbhishekHSinghCMT

Vedanta- Dangerous Tube (Safe inside the Tube)

AbhishekHSinghCMT Updated   
NSE:VEDL   VEDANTA LTD
11
Till the time it keeps moving in the tube which it did since bottom@58- it is good as soon as it leaks out of the tube that will 1st sign of worry for Vedanta .
20 period moving average has given good support at 195- so, any close below 195 will be the first sign of weakness.
Also at previous resistance zone 230-235 should be crossed & sustained for the next leg upside.

So, Let Vedanta cross 230-235 zone & sustain to give us a feel that -it can move further upside.
Trade active: 10:45 Hrs 15th Nov2016

Day's High@230

Last Price@220

Zone 230-235 acted as resistance for the day- will the tube leak- let us wait & watch.
Trade active: 15:30 Hrs 15th Nov2016

Closed at 209.75
Trade active: 17:02 Hrs 21st Nov2016

Day's Low@192

Closed@197.50

The Channel Leaks..down

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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