NSE:VEDL Vedanta Limited is an Indian multinational mining company headquartered in Mumbai, India, with its main operations in iron ore, gold and aluminium mines in Goa, Karnataka, Rajasthan and Odisha.
VEDL, 1D gave closing above Marabozu candle. The stock also formed triple bottom at 232 level and gave closing above neckline of triple bottom.
The correction in the stock is about to over.
The long correction, took over a period of year or so...
But it shuld turn around for a bullish move from here on.
Keep an eye on this, we can just start accumulation slowly before we get confirmation.
Will keep updating going forward.
All the best guys.
Vedanta has a few things going for it
Bears tried to bring the stock down a few months back and failed. News of fund raising kept it high
News of capital efficiency is coming in and news of a new fund raise by selling off steel assets
COnsolidation on a weekly and daily basis - the stock seems to be waiting for some news
Results will come soon but the...
📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Ascending Triangle
📌 Symbol/Asset: VEDL
Stock with Strong Hourly Support
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
Vedanta Ltd. has been in a consolidation zone for more than 2.5 months after a bearish trend and there is also 5 waves correction triangle is forming.
Some more confirmation is mentioned below:-
1. The price will face resistance of the 200 EMA zone.
2. The volume is not supporting the Up movement the volume is declining and the price is increasing...
Vedanta Long Term Bullish Cycle About To Start. Here's Why :
1) Vedanta has has corrected itself
2) After correction it has created a base
3) Base is also formed into the monthly demand zone and structure.
So Vedanta will explode to the upside like a raging bull
VEDL is neutral at the moment with both bullish and bearish signs
1. a long term 600%+ rise - bull
2. 51 % correction from top - bear
3. classic bull divergence between rsi and price - bull
4. minor hidden bearish divergence between rsi and price
5. a down flag/pennant consolidation
6. RSI is in downtrend
the price is moving with contracting bases challenging...
One can check VEDL for 30+ % Gain as the chart is showing. it is symmetric triangle breakout but market is too volatile so please must have a SL near 20 EMA or as per your comfortable. but still the volume is not supporting as per the requirement.
CMP : 330
TG : 430
SL : Below 20 EMA
Disclaimer : It is my personal view as a trader and for educational purpose...
Vedanta looks in a lot of financial stress and shorters are now behind this stock. Coming days will be crucial and in my opinion, 250 should be kept as a stop loss in this share if you are already invested. Do not jump in unnecessarily.
VEDL:- The stock has given a breakout by forming an ascending triangle pattern, keep your eye on the stock
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get...
VEDL has broken out of its resistance after consolidating right on it and it has done so on above average volume after taking support from
its trendline and is giving an opportunity for a quick profit.
Stop loss 314.45
Option data has had a massive increase in open interest and shows a long buildup
Keep It Simple