On the last trading day, Nifty Metals had faced the breakdown of his trendline on daily chart. Now it will take support from it's next support level at 5282 & 5169 & then 5000. Such fall in Nifty Metals will cause more panic in market and we will see more decline in price of its major contributor Shares which are Tata Steel (23.56%), JSW Steel (15.38%), Hindalco...
The stock behaviour is within the support and resistance for a 6 month period, but still we have to wait for the uptrend. Their profit multiplied, that's promising on the contrary SEBI recent warning can have an impact so wait for your entry.
Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above...
The stock is now out of consolidation zone.RSI is above 70 and a recent breakout has also taken. The stock is expected to reach the targets shown on chart.
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
vedl will remain bullish till the three white soldiers' first candle low does not break and maybe it consolidate at this point because of the good rally. but remains bullish
A steep fall which can be counted as 12345 impulse , suggests that vedanta stock is taking a correction in the form of a ZIGZAG pattern. The current rise looks like a corrective sequence of short term bearish trend which will complete this zigzag correction. One should look for short opportunity near 310 zone. keeping sl of 328 & target for the region of 260 /240 .
All the metal stocks have been on a tear this year, and Vedanta is no different.
While most of the them are currently at their all time highs, Vedanta is still far from its ATH made in 2010.
It is nearing its previous peak of 2018, which will act as a strong resistance zone.
Keep a close watch, and if the share closes above 355, we can expect smooth ride to...
