On 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...
One 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...
VEDANTA LOOKS GOOD, there is a strong resistance if it breaks it will act as strong support and you can see there is a gap on 400 still remain to fill and so you can expect short term target of 300 and long term target of 400.
THANKYOU.
The "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:...
Fib 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
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...
VEDL has moved out of the Inverse H & S pattern.
Today it tested the neckline and gave second chance to buy near 244
On the upside it can test 256/270/278
Vedanta has given a breakout from the descending trend line at 249.45 on more than double the volume of last 30 days average volumes. The target of this B/O is 285. However, it will not be valid below 240.
This is not a recommendation to Buy or Sell. For educational purpose only.
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
