VEDANTA LIMITED Trading Setup

100 this week...Had crazy volume today at open, solid green while market is red...no sellers

Sir, can we also take long position if prices bound off as it is upward trending??
Just for educational purpose!

@MuneshV, Ye sir we can, but if you ask the upside potential is less, that's why I did not add suggestion to go long.

As you can see there is good amount of volume accumulation at RS. 79, which will be difficult to cross. Keeping in mind the CMP of 78.30, there is less profit potential in going long.

And as we see from the bounce, there are people opening long positions, but if the price moves downward, it will start taking out their stop losses and will give further boost to the downside momentum.

@Tarun_Kumar98, Thank you for your valuable insight!

@MuneshV, But as always market can move anywhere they want, we just try to predict the most probable path.