eastwind65

WAIT FOR A PULLBACK TO ENTER LONGS IN VEDL

Short
NSE:VEDL   VEDANTA LTD
VEDL  had a successful breakout on 29.07.21 and would have given around Rs 60 profit. Since the stock is an uptrend would it be prudent to enter now.

My thinking is since the stock has given a good profit in the push phase we should wait for a pull back to enter fresh longs.

Also we have a negative divergence. So wait and watch before committing to fresh longs.

Comments

suggestions at 274 ?
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eastwind65 ishushivhare28
@ishushivhare28, It has broken that support too. Lets see if it finds support at the blue trend line.
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Can we enter now
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eastwind65 luckyGnu83400
@luckyGnu83400, It would be better to wait for now. There is some support around 293-296 range. If we go to a lower time frame and see if we get some sort of reversal, then we can enter. Right now just wait and watch.
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