NSE:VEDL
Vedanta Ltd. has been in a consolidation zone for more than 2.5 months after a bearish trend and there is also 5 waves correction triangle is forming.
Some more confirmation is mentioned below:-
1. The price will face resistance of the 200 EMA zone.
2. The volume is not supporting the Up movement the volume is declining and the price is increasing...
NSE:VEDL
#VEDL formed ascending triangle post shared the level in TV, check the attached idea,
Worked as support and not look back again and delivered 11%, 27k in 300 CE options.
Levels marked on chart for practice.
Happy LEarning !!
VEDL has formed head and shoulders pattern on a trendline on Hourly chart. We wait for the trendline support at 390 to be broken for the selling pressure to take steam. Once broken, we can expect price to reach the measured move target of 350.
#MONDAY#
#SHORT#
NSE:VEDL
@VK2413
{
VEDL tried to break its major resistance but failed.
we can clearly see it on WEEKLY candles.
it is on its way to form HEAD AND SHOLDER pattern.
head is forming form tomorrow....
LEVELS are given on the charts for TRADE..
}
Fallow @VK2413 ,❤️Like,✌️Share.
NSE:VEDL
Observations:
1) On 1 day time frame, we can see that it came out from the resistance channel.
Also it came out from the neck line of rounding bottom pattern and closed above 350 level.
Next resistance is at 360 level.
Safe buy on sustainable breakout of 360 level.
Please refer below chart : 1day Time Frame. ...
Stock is currently forming a falling wedge and descending triangle pattern and is showing signs of support at 264-265 levels on a 1Hr time frame. If the pattern is broken on the upside till 275 could be seen. Upon breaking, 275 levels of 280 and 287 will be the next target. Upon breakdown, a fall till 253 and 250 can be seen.
You can follow my blog...
This is only for educational purpose, don't consider this as Recommendation, am not responsible for your losses/Gains.
Reasons to Trade:
a) Price is near Resistance level
b) After a long uptrend, expecting some retracement untill down the support line drawn
#powerofpriceaction #rathrolaTrades #tradingviewindia
Regardd,
Rathrola
Note: This is for educational purpose only.
The price of VEDL is moving in a channel but there is a bearish cloud cover formation in VEDL which indicates there is a bearish sentiment. Expecting price to touch the lower part of the channel. Based on the price action when price reaches at the lower part of the channel, further trend can be determined.
I could see 2 wick which shows selling pressure and a selling volume in vedanta today and multiple candle closed below mid bollinger band. Hence,
Sell below 78.5
SL- 80.5
T- 76.5
![VEDL: Simple Trade Setup | VEDL | 07-02-2022 [INTRADAY]](https://s3.tradingview.com/g/GVPzoZKq_mid.png "Simple Trade Setup | VEDL | 07-02-2022 [INTRADAY]")
