VEDL
Vedanta at parallel channel lineVedanta is trading in Parallel channel zone for almost a year now, if single candle closes above the resistance line it then targets 173/206 for short to medium term. If get rejections at resistance target is lower support line at 110-120 range.
VEDL Long Setup [Intraday]NSE:VEDL Long setup at 136.90 with SL at 136 and TP 138.70
Note:
Consult your registered adviser before taking any decision.
Always risk 1% of account size per trade, adjust the position size accordingly.
Descending Scallop but Other ObservationsPrice movement at the current level makes the chart very interesting. It has formed Descending Scallop pattern and gave breakout with good volume that could have drag the prices to 120 level. However it made a strong bar yesterday and thus formed divergence in RSI oversold Area. So I would prefer to consider it a failed Scallop breakout pattern and look for a opportunity now.
One can go long at the current level by providing Stop Loss of recent low and look for a target of 160.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
VEDL || SHORTSome institutional sell is going on, we may see some downtrend if it continues
If it breaks 153 level, then we may see 143, 135
VEDL, BEARISH FLAG PATTERN BREAKOUTVEDL,
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
VEDL HAS UPTRENDNOW 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 VEDANTA -- WAIT AND WATCH ACT ABOVE 172 FOR BUY SIDEVEDL IF CROSS ABOVE 172 WITH WIDE RANGE BAR AND SUSTAIN THAN PROBABLE BREAK OUT .....
CURRENTLY VIEW IS FOR WAIT AND WATCH
VEDANTA | Ascending Triangle 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 ability one can consider short with stop above 175.
