VEDL
just given 3 top brekout at level of now next level is 285 as we are in buying frim 250 there is 4 top break out now 3 again so buy this stock with sl 260 target 285 in next 8-10 days.
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.
Trade Long:
Buy above - 263.50
Target 1 - 268
Target 2 - 275
Stop loss - 257
Trade Short:
Short below - 257
Target 1 - 250
Target 2 - 253
Stop loss - 263.550
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
VEDL has been in correction phase after the impulse move and is experiencing resistance on the upside. if it breaks through that pattern downside, it may fill the Gap and moreover it can test the 230 Whole number. If it breaks to the upside, Then the trade will become invalid.
Enter According to the price action.
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...
i) Enter only on Bullish confirmation in the zone, else trade is invalidated, Not blind buy
ii) Either Book Partial profits or trial stops after 245's zone
iii) Its 4 hrs, so patience is the Game
i) As usual we dont go into game of breakout direction prediction
ii) Anyside breakout we enter with tight stops & quick to reverse on False breaks
iii) Then how come Money will be made ?!
iv) Please check India Cem post to see how to play !
Keep Supporting Buddy's ! Happy Trading & Thanks :)
Possible triple top formation for VEDL. I say possible because prices are still rising. I would advise keeping your stop loss at 270 levels to avoid any surprises with upward movement. Wait for price to fall below 242 levels before entering this position
Here, I have analysed Vedanta which will guide me in making trading decisions for it , for the coming week.
I'll wait for any opportunity that provides good RR.
Sharing if it helps :)
Last time I touched on Vedanta for short term opportunity. The weekly chart is showing a classic pattern based on Dow theory. Clear consolidation phases and markup phases. Let's see if this holds up.
Short VEDL near 228 if it is possible, in case of up move add more shorts, or may be at the opening tomorrow. Strict SL- at 231 and target would be 220.
