WAIT FOR A PULLBACK TO ENTER LONGS IN VEDL Short

VEDANTA LTDNSE

Description

⋅ Aug 14, 2021 2:08 PM

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

ishushivhare28

⋅ Aug 20, 2021 9:16 AM

suggestions at 274 ?

eastwind65

⋅ Aug 20, 2021 9:55 AM

@ishushivhare28, It has broken that support too. Lets see if it finds support at the blue trend line.

luckyGnu83400

⋅ Aug 18, 2021 4:47 AM

Can we enter now

eastwind65

⋅ Aug 18, 2021 4:56 AM

@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.