VEDL trade ideas
Vedanta - Watchlist - Buy CandidateStock is less than 3% away from 52 week high and has been consolidating within a tight range of 4% for whole of last week. Average 10 day volumes of around 22M. If stock breaks above last week's high on decent volumes a buy could be initiated with SL 10% away.
Buy VEDLVEDL making higher highs and following an ascending channel on Hourly and higher time frame. Buy above 229.60
VEDL chart analysis for 1st Mar 2021 [READ THE DESCRIPTION]VEDL chart analysis for 1st Mar 2021
READ THIS: NONE of the analysis has failed so far. I am posting 10 a day. You can check the history.
1. Check the levels and analysis.
2. If you are new, trade in low quantity or trade with virtual currency: https://trading kaivalya digital/papertrading.
3. If (or when) the stock moves 50% in our direction, start booking partial profits. This is very important as the stocks, a lot of times, show a reversal.
3. After the day ends, come back and play back the candlesticks, if you haven't traded. Check if the levels hold.
4. Hit that like button and comment if you find the analysis is holding.
VEDL to take long entrywe can see the good buying opportunity at the BO level above 196 for the target price of 240 with the SL of 184. RSI is also at strength level above the 60. Wait for the confirmation candle to take the trade. This is for your educational purpose only.
Long VEDLVEDL
positive reversal ( Target 220 after 190)
23% fib + Trendline + avwap rejection confluence
inverted head and shoulder breakout on RSI at daily tf
Broken out and retested weekly resistance
Daily RSI taken support at 60
