VEDANTA: Multi-Year Breakout: Monthly Timeframe: Oct'24

Oct 3

VEDANTA: Multi-Year Breakout: Monthly Timeframe: Oct'24

• Stock broke the high it made in Mar'10 & Apr'10 (495) in Sep'24. A multi-year breakout on a monthly time frame
  
• RSI (77.43) is above 60.
  
• Breakout in Sep happened with above average trade volume (9 SMA)
  
• Drawdown = 437/-
  
• Target = Breakout level + Drawdown during consolidation phase = 495 + 437 ~ 930
  
• ATR = 60.23
  
• SuperTrend = 288.99
  
• Stop Loss = 1 ATR below previous month's low = 424.55 - 60.23 ~ 365
  
• Entry on 03-Oct
  

Oct 4

Trade active

Bought on 03-Oct-2024 @ 513