Positional Trading Idea on Vedanta

Apr 9

VEDL

Vedanta is closed near 341 resistance level. Crossing above 341 may lead stock to near 390 level. Trailing Stop Loss near 315 level. Drawing Fibonacci extension considering recent High near 341 and Low near 207, the 1.618 extension level is around 420 level. Stock is expected to touch 390- 420 level in near term.

Apr 18

Note

Target of 390 achieved. Next target is 420 level.

May 5

Note

Touched 420 target level on 3rd May 2024. Weekly close above 420 will pave path for target of 550. Trailing Stop Loss should be placed near 395.