VEDL trade ideas
VEDL - SWING TRADE - 6th December #stocksVEDL (1D TF)
Swing Trade Analysis given on 6th December, 2023 (Wednesday)
Pattern: FALLING WEDGE
- Breakout of Resistance - Done ✓
- Volume Spike Buildup - Done ✓
- Retracement & Consolidation - Done ✓
#stocks #swingtrade #chartanalysis #priceaction #traderyte #vedl
Vedanta VEDL 25 % up buying recommended near 205-207On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Vedanta - High Risk High RewardOne of those stocks i am calling high risk high reward coz of the debt issues with the parent company and the promoter trying to sell some of those parent co assets to his Indian listed entities.
But as an entry it cannot come as a lower risk entry (200EMA & 200WEMA crossover).
The trade could literally be taken with a 1-2% SL because of the crossover of the moving averages.
Long above 260 with a SL below 255/253.
The stock has crossed over the moving average + broken out above the downward trendline.
There could be a small entry to start with with a larger entry above 268.
Inverse Head & Shoulder_Breakout_Retest_Ready to FlyThe "inverse head and shoulders" is a chart pattern used in technical analysis to predict potential bullish reversals in the price of a security or asset. It is the opposite of the more common "head and shoulders" pattern, which indicates a potential bearish reversal.
Here's a breakdown of the components of the inverse head and shoulders pattern:
#Left Shoulder:
The pattern begins with a downtrend in the price of the asset. The left shoulder is formed when the price temporarily rises before resuming its downward movement.
#Head:
Following the left shoulder, there is a further decline in price, forming a lower low. The head is created when the price starts to rise again, but this time it reaches a lower high compared to the left shoulder.
#Right Shoulder:
After the formation of the head, there is another decline in price, forming a higher low compared to the low of the head. The right shoulder is created when the price starts rising again.
#Neckline:
The neckline is a trendline drawn across the highs of the left shoulder, head, and right shoulder. It serves as a crucial level of resistance. A breakout above this neckline is a key signal for a potential bullish reversal.
#Volume:
Volume analysis is important in confirming the validity of the pattern. Ideally, there should be higher trading volume during the formation of the head and the breakout above the neckline. This suggests increased buying interest.
#Confirmation:
The pattern is considered confirmed when the price breaks above the neckline. Traders often look for a convincing close above the neckline to confirm the reversal.
buy no dipsFib Analysis- the recent pull back to 215 is just 50% of the immediate swing. This is an indication of strength. Which also means this stock will breakout and make new highs. On the hourly charts the stock broke out above 251.50. Anywhere around the zone its a good buy. we are looking at 260 and 280.
Breakout in Weekly Chart Breakout in Weekly Chart
1. Breakout in Weekly Chart in Vedanta. Retest can be seen by yourself with EMA indicator.
2. Also Dividend is about to announce by the company. Hold for some more days or till 5 jan 2024 to receive passive income of dividend.
3. Trade with STOPLOSS 🛑.
4. Post is for educational purpose only.
5. Do paper trade to learn and earn.
#Happy_Trading_and_Earning
Vedanta Ltd.After continuous fall in this counter with Nifty Metal giving breakout it mustn't be ignored due following ensuing formations
Double bottom as marked
Inverse bullish Head & Shoulders
Falling Trendline breakout
With resistance above 260 crossing which can quickly touch 300 plus failure below 225