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Bullish Charts with Inverse H&S formation
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
As on 26/09/2018, Vedanta has given a breakout on daily chart and has formed three inside up candlestick pattern.
BTST IN VEDANTA
Details on chart.
Bullish MACD .
Levels mentioned on charts .
Vedanta has been in a downtrend for sometime, despite strong fundamentals, amid global pressure on metals due to trade war and other macro-economic factors. We're in a squeeze and a break above the resistance trend line could deliver a great buying opportunity for this natural resources stock.
Enter with stoploss of 205. Forget the target, a real turn would take it long way.
VEDL - Probability of Shark Pattern
Long term support stands @200
Near term resistance at 217-218
Indicators are slowly turns to bearish side from bullish. One can expect up to 280 range.
Stoploss: above 357(closing basis)
triple top reversal
Global commodity market, especially the metals, is going great guns.
That rally has reflected in Indian commodity stocks too.
After a brief correction from overbought zone and a bounce from 20 day MA, Vedanta looks set to continue the rally.
Immediate target 335
Vedanta on formation of Range and waiting for breakout. Price and Indicators are indicating Neutral trend so need to wait for confirmation on which side will break.
Buy above - 263.50
Target 1 - 268
Target 2 - 275
Stop loss - 257
Short below - 257
Target 1 - 250
Target 2 - 253
Stop loss - 263.550
Vedanta Ascending Triangle Breakout TGT 275
Vedanta Ltd moving into channel.
Recent swing low shows Divergence in Stoch if compared last swing low.
Since its again approaching top of the channel,
once can go short around 245 with a stop loss of 251 with Target of 235-230
An ascending triangle is in formation in Vedanta, and the time is near for a breakout.
Would you ride along?
Why it is Absolute Risk ? Bcos once you take the trade there is No going back, Your Risk is defined for sure & Absolute. Very well before taking the trade we know our Risk & on failure Risk is absolute. But we can't say for sure our trade setup is 100% winner, so there is Potential chance of Reward.
Vedanta just initiating channel formation, LL's indicating ...
Looking at a uptrend , keep trailing stop loss.