VEDANTA LTDLong
VEDL : Descending Channel
Updated
VEDL
In daily time frame, VEDL has formed Descending Channel Pattern
Descending Channel :
A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels.
Key Points :
1) There is no strong seller observed in volume
2) Pullback candle shows that strong buyers is still alive
3) RSI at a good range
Trade Suggestion :
As per the chart pattern
Buy Level: 330
Target : 360-370
Stop Loss: 315
Holding Period 2-4 Weeks
Note: The above level is only for study purposes
In daily time frame, VEDL has formed Descending Channel Pattern
Descending Channel :
A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels.
Key Points :
1) There is no strong seller observed in volume
2) Pullback candle shows that strong buyers is still alive
3) RSI at a good range
Trade Suggestion :
As per the chart pattern
Buy Level: 330
Target : 360-370
Stop Loss: 315
Holding Period 2-4 Weeks
Note: The above level is only for study purposes
Note
VEDL 330 to 350Note
VEDL has reached our target 330 to 360 ( 9%Up)
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