Vedanta had shown a breakdown when the company failed to de-list. Since then, there has been an unbelievable rise in the stock's price. So much so that has almost recovered from the breakdown.
Recovery in Vedanta is due to Rise in price of Copper aluminium and all other metal prices around the world. haven't you checed the breakout of NIFTY METAL trendline of of 2018 High. Vedanta is going 300 by 2022 due to increase in demand for the metal, huge divident play is there as well. if Vedanta bidding for SCI and BPCL get successful, Vedanta could be next reliance in making with many businesses under the hood
sankatradesindia
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@Kakerot, I was signalling towards the same thing. The company is fantastically placed fundamentally. Technically, this is such a beautiful chart. Great interest shown in the stock.
Kakerot
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@sankatradesindia, i am watching RSI daily intraday perspective as well as weekly and monthly, Stock is overbought from the levels of 100as of now but the bull run of metal is real, part of it being the HIGH construction that CHINA has again Started as well as Biden being president of USA that means lower restrictions for the import of commodities in USA. it was actually in NOV 1st week when NIFTY METAL started the journey when everybody knew that BIDEN is winning. i am glad that i literally added at 92 rs after delisting failure, and i feel wonderful when i see and catch the bottom of some stocks, happened in DCB bank at 60 rs as well as AU small fin at 400 but missed Vedanta at 66
Yes, to catch a stock at the absolute bottom is a great feeling - I completely agree. I added Vedanta at around 96-97. While the profits have been good, the company has also given dividends which is such a great return in itself.
I was able to catch SBIN and ITC at levels of 178 and 170 respectively. They together as of today make almost 45% of my portfolio.
Having said all that, the stock market over all is in a huge bubble. The fundamentals of the country don't compliment the stock market. So maybe profit booking must be done. Again, not any recommendation - just a thought.