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Short

VEDANTA SWING TRADE

NSE:VEDL   VEDANTA LIMITED
STOCK HAS CROSSED CRUCIAL SUPPORT OF 284
STOCK NOW IS AROUND ITS 200 DAY MOVING AVERAGE AND ITS SEEING SOME PRESSURE
LETS TRADE WITH THE TREND
HOLE METAL SECTOR IS SEEING SOME TIGHT PRESSURE
I BELIEVE IT MIGHT SEE FURTHER DOWNSIDE MOMENTUM
TRADE VIEW
SHORT @ 279 (NOTE A CLOSE BELOW 278 TODAY WILL FORCE MORE DOWNSIDE)
STOP @ 285
TARGET 274-270
DAY TRADERS CAN TAKE SOME RISK AND ENTER INTO THE STOCK
SWING TRADES CAN WAIT TILL 3:25 TO ENTER
But I have entirety different view on VEDL. As it has taken support @200 DMA as well trend line support. So I will buy @ this level for the target of 290-95. What is your view?
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@viveree123,according to my analysis stock has broken the channel saw recovery which is a pullback and so the pattern is valid now
Now coming to my view i have made it clear that short the stock if it crosses below 278 for the swing traders......
But i am still telling people to trade the trend because its not just vedanta but other stocks under metal sector are under pressure and we might see the pressure for coming days as well
Now to add if you are analyzing the stock please do a relative strength analysis of the metal sector index and you will see the result
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