VEDL - Triangle Pattern- LongHi Friends,
Right now we are going to analysis the script VEDL
Script was in the Long Trend.
Script was touched the Area of Value with confluence to EMA50 & EMA79 which acts as dynamic Support and Horizonal Support 260.
Stochastic RSI in Daily, 2hr and Weekly was in the oversold region .
MACD was also in the Oversold area
Volatility was in the peak at ATR.
Trend was in the uptrend and Descending triangle pattern was formed which was braked and retested now.
CPR : Script was in the range of CPR . CPR was Bullish Bias.
Based on the above:
We are Bullish on VEDL.
Buy: Tomorrow Open Price
Target - Previous Swing High & Trail your SL further.
SL: 276 - 1ATR
EMA50 and EMA79: Dynamic Support
Stochastic RSI
MACD:
ATR:
CPR:
Triangle Pattern:
