From the last 2 trading session entire metal team has lost some steam and NIFTYMET index was at 2 years High on Last Monday(Rally was led by Hindalco, Tata Steel, Coal India, Vedanta ).
On Daily Basis, Vedl has spent most time above 50-Day (Blue line)and it has moved in a channel and bounced a couple of times near the lower end of the channel.
is near previous lows(oversold range), upmove in can confirm the view.
CMP-251 SL-241.5 T1-262 T2-270 T3-293 (Nervous 90's-Sehwag was once out on 293) T4-300+
Please add your views to this post by commenting.Views will help us be aware where candle bounces or is it a flat pitch.
"It's like an interrogation going on, every candle(ball) is asking tough questions!"-Harsha Bhogle
Intermediate target before dividend is 282 , before it take supports around previous target T1:261-264 and thn SL of 257.