In terms of Wave Count, Vedanta seems ready for a retracement
It is been observed that the price action trending up on daily chart and recently breaks out of downward correction channel on daily chart. Today, Nifty corrected on a big move but the price action in this doesn't change. Bulls are in control and dominance in current scenario. It has completed 8 Waves cycle and now moving onto a new impulse wave. It is a good time...
It is been observed that the price action is trending up by making higher highs and higher lows. Previously, at high of 77 levels price action consolidates and corrects within a downward trendline and then breakout the trendline and then broke out to a new highs with that impulsive wave. Now it is again breakout from the downward trendline and looking to reach for...
There is an opportunity to invest as the price action is moving up to Wave 3 after confirming and completing a regular flat corrective structure. Now we shall short corrections and high jumps in price movements. Target 1: 56 Stop: 49
As per the price action, it seems like 5 impulse waves are completed within the up-trend channel and now it will move further in corrective phase where 3 waves will continue rallying downward against the trend. The three corrective waves would name A B C. I have marked only Wave A in the above chart.