1. Potential change in MS underway
2. Still in consolidation mode
3. Symmetrical Triangle pattern
4. Flag & Pole formation
5. Early entry will give a better RR ratio
6. Support zone: 262-267
7. Target: 296, 320, 332, 350. Stop loss: 263
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
VEDL will be bullish after it crosses and trade above 276. Also it is trading in uptrend channel.
--For Intraday buy above 276. And Targets mentioned on charts are for Intraday purpose.
--For Positional Trade, buy above 276 only and keep next target 296 as per Fibonacci levels.
--If it breaks down the channel then it will go to test the demand...
Daily on 28/Jun/2021
double bottom strategy, bounced back from supply zone, closed above 20 EMA and near trend line
Entry 263.85 (with green candle confirmation)
SL 263.85-19.4 = 244.45 (SL based on ATR)
(Risk and Reward ration 1.4)
VEDL has recovered from the oversold region on the RSI indicator. Also, a Golden cross might be seen on the MACD indicator in coming trading sessions.
Pricing is holding above shorter and long-term moving averages.
Longs can be taken with an SL of 249.
LONG TERM INVESTMENT
Target : 251.80
SL : 171.60
Timeframe < 60 Days
Can hold for longer time
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT...