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 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.
Zone 230-235 acted as resistance for the day- will the tube leak- let us wait & watch.
Closed at 209.75
The Channel Leaks..down
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
As you have mentioned VEDL has reached at an important junction. In December Government's extended subsidy for metal industries will be reviewed it can be the trigger. Of course we are more interested in trading charts.
So recent rally of Tatasteel, Hindalco can be watchful. I request you to publish your views on them in the same channel or differently for Metal industry stocks.