After correcting from the levels of almost 160 continuously vedl has given a positive weekly candle close in the previous week closing abv 60. Still the last week's high is acting as a resistance and selling is coming at that level. Expect that the stock is trying to give a breakout and in such scenario's often the long are first cut out by a steep decline and the...
It has activated a C Clamp in Daily Time frame suggesting 149 as a possible level which coincides with 50% retracement of Bullish Alt Shark. In hourly time frame it has taken good support near the Kumo. View negates below 139
It is showing signs of reversal from the PRZ of 2 Bullish Harmonic Patterns: Gartley & Alt Shark. If it sustains above 132 it could retrace till 145-150
Buy Vedanta for a short term on a dip around 149-150 with a SL of 144 and target of 160. A converging Macd and a rising Rsi from oversold region indicate a short term bullish undertone.
