VEDL, BEARISH FLAG PATTERN BREAKOUT. WAIT FOR THE PULL BACK AND LOOK FOR BUYERS EXHAUSTION AND LOOK FOR SHORT OPPTURNITY. SHORT=170 TARGET=145 STOPLOSS=180 RISK TO REWARD=2.5
NOW IT IS IN RESISTANCE LEVEL IF IT BREAKS THE RESISTANCE LEVEL R1 THEN IT HAS A CHANCE TO REACH RS179 WHICH IS R2 POSITION.ALSO IT HAS A CHANCE TO BREAK HORIZONTAL CHANNEL.
VEDL IF CROSS ABOVE 172 WITH WIDE RANGE BAR AND SUSTAIN THAN PROBABLE BREAK OUT ..... CURRENTLY VIEW IS FOR WAIT AND WATCH
Ascending triangle pattern observed in Daily time frame. Purely from pattern standpoint it suggests confirmation for a possible Bull trend. However, looking closely at recent price action and Fibonacci levels, 170-174 looks to resist an up move. Hence a daily close above 174 would make the case for Bulls stronger. Alternatively, based on one's individual risk...
refer chart for details
VEDL hourly chart study - falling channel
check the correction and go to trade
Short VEDL between 163-164 T1: 158 T2: 155 T3: 151 SL: 170.50