Thenali_Views

VEDL - Triangle Pattern- Long

Long
Thenali_Views Updated   
NSE:VEDL   VEDANTA LTD
Hi Friends,

Right now we are going to analysis the script VEDL

Script was in the Long Trend.
Script was touched the Area of Value with confluence to EMA50 & EMA79 which acts as dynamic Support and Horizonal Support 260.
Stochastic RSI in Daily, 2hr and Weekly was in the oversold region .
MACD was also in the Oversold area
Volatility was in the peak at ATR.
Trend was in the uptrend and Descending triangle pattern was formed which was braked and retested now.
CPR : Script was in the range of CPR . CPR was Bullish Bias.

Based on the above:

We are Bullish on VEDL .
Buy: Tomorrow Open Price
Target - Previous Swing High & Trail your SL further.
SL: 276 - 1ATR

EMA50 and EMA79: Dynamic Support

Stochastic RSI

MACD:

ATR:

CPR:

Triangle Pattern:
Trade active: Trade Executed at 287.90 at Opening of the day 25Aug2021

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.