VEDANTA LTD---AT Reasonable valuationVedanta ltd --DAILY CHART -- Reasonable valuation
1. stock has bottom out around 200 sub level on daily chart as seen and currenetly trade at 262 level
2. stock has shrp correction form its high 440 sub level due to metal price correction in last 1-2 years as metal price bottom out now stock has good potential to trend reversal from current level .
3. as per chart setup 240-250 is strong support zone for stock and trendline seen support at current level Buy for 255-260 level target 280-300-320 + in short to mid term ( 3-6 month period ) Stop loss can place bellow support line 225
4. positive divergence seen on squeeze momentum indicator which is bullish sign
5. stock currently trading above 21, 50 HMA on DAILY chart .
6. DAILY RSI AT 58 level currently above 60 will extream bullish momentum , macd above center and signal line .
7. Valuation IS Reasonable now at risk to reward ratio . will be 1:3 ( stop loss 30 Rs and projected profit margin 100-120 from current levl)
** THIS IDEA IS FOR EDUCATIONAL PURPOSE ..
Trade at own risk
HAPPY TRADING .!
