aks85
Long

VEDANTA LIMITED- Cup and Handle Pattern- Buy Opportunity

NSE:VEDL   VEDANTA LTD
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3
As seen Vedanta Limited has been in a strong uptrend and has formed a cup and handle pattern in the daily charts . A Breakout of this pattern would be our entry. As seen 225-227 levels has acted as an important support and then as an important resistance, which it failed to break on a couple of occasions as seen by the downward red arrows.
It is bullish in the larger time frame as well.

Expected levels- 250, 260. If holding is period is more than 6 months then target would be the height of the cup i.e around 370 levels.

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