crinvestments
Long

Intraday VEDL Long

NSE:VEDL   VEDANTA LIMITED
VEDL             has seen a good day or two of range bound trading. I f VEDL             crosses above 229.65 with volume tomorrow il buy for a scalp trade with targets of 231-231.50 and a stop of 228.30. i will trail my stops as and when these levels are reached till RSI turns downwards!
Trade closed: target reached
Hi crinvestments

Thanks for your analysis-

as a novice i have 2 doubts it would be very helpful of you if you can clarify those for me.

can we call it cup n handle pattern? and how correct is it in downtrend?

thanks for help!

Rgrds
Reply
crinvestments mahajan.rajesh
@mahajan.rajesh,

Hello sir. Let me admit firstly that even I am a learner. I do not trade looking at all patterns and hence do not know the exactness of the cup n handle pattern.

I trade only breakouts with volume so mostly the bull flag pattern. But I basically see the price action with volume at the levels where price has previously touched and reversed. . In short. When price breaks resistance levels with volume I buy and if price breaks below support with volume I sell. So I prefer to keep it as simple as this!

So I'm extremely sorry I cannot shed light on your doubts.
Reply
mahajan.rajesh crinvestments
@crinvestments, thanks for reply , happy trading! :)
Reply
crinvestments mahajan.rajesh
@mahajan.rajesh

Thank you sir . I'm sorry I couldnt address your query! Happy trading to you too! :)
Reply
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