VEDL trade ideas
Elliott Wave - Wave extension rule This rules applies only for those waves where 3rd wave is extended . I will talk abt 1st and 5th wave extension and LD's with angles with examples in future . Now when ever u see a 5 wave structure draw a line joining wave 2 and wave 4 . If the impulse has to end then the 2-4 line will be broken in lesser or same time than it took to form wave 5 . And it should reach the minimum retracement of previous wave 4 of one lesser degree in the same or lesser time than it took for wave 5 to form . Regards
short position VEDANTA LTDVEDL : Has given breakout on daily chart with good volume, but it might be trap or a false breakout. On hourly chart showing downtrend so you can short the position for short period only. Supply & Demand zones are marked on charts.
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This is my personal Opinion about VEDL .
Take it as educational purpose. I am not SEBI registered or any Stock market expert.
I am not responsible for PROFIT or LOSS.
💡 💡 💡 BEARISH HARMONIC PATTERN !!! Vedanta 🤞🤞🤞Hello Traders,
We have spotted a bearish Gartley pattern on VEDL chart.
Trade levels are mentioned on the chart.
Good Luck!!!
VEDANTA IS FORM SYMMETRICAL TRIANGLE CHART PATTERN.AT CURRENT LEVEL VEDANTA FACING RESISTANCE OF FIBONACCI LEVEL . THEREFORE, STOCK FOR SMALL CORRETION GOES DOWN FOR CHECK SUPPORT AT THAT TIME WE BUY VEDANTA FOR SWING. TIME PERIOD 10 TO 15 DAY.
good for holding 1 weekBUY @ 253
SL@250
TGT@263
ENTRY CRITRIA:
ONLY IF PRICE RESTS AT/ABOVE 250 THEN BUY AT ONLY BULLISH CANDLE CLOSING.
LOOK FOR VOLUME TO INCREASE THEN PREVIOUS CANDLE VOLUME .
VEDL | Trendline support (Similar to our Voltas chart) 10-30%VEDL | Trendline support (Similar to our VOLTAS & TVS charts) - 10-30%
CMP : 266
SL : 250
Target : 295, 345
If you see weekly chart - you will get the reason for second target level.
VEDL Technical analysisReason 1: It is taking support at long time trendline
Reason 2: we could evident a channel pattern which look so strong from the past month.
Reason 3: CONFLUENCE The support line of channel pattern is meeting with long term trendline as you can see in chart.
Reason 4: Emerging of morning star candlesticks right away at the confluence.
Reason 5: we could also spot a RSI divergence in lower time frame (i.e) 30 min or 1 hr
It is purely for educational purpose and one can consider trading at their own risk.
Bullish candle on trendline supportThere is upward trendline support in this stock and a bullish candle is also formed on this line. Can be bough for a target of 295.
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Happy Trading :)
Vedanta - Bull flag + Symmetrical triangle. BO soon! Key Highlights:
1. Potential change in MS underway
2. Still in consolidation mode
3. Symmetrical Triangle pattern
4. Flag & Pole formation
5. Early entry will give a better RR ratio
6. Support zone: 262-267
7. Target: 296, 320, 332, 350. Stop loss: 263
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Symmetry triangle formation VEDL is forming a symmetrical triangle shape.in coming days it is to watch out if crosses the upper line.that we a breakout if it cross the line.to be added in the watchlist
vedantaCmp @275
good positional pickup
price hasnt give thebreakout
but the rsi has
so technically price to follow rsi
targets 295++
