VEDL trade ideas
Vedanta After correcting from the levels of almost 160 continuously vedl has given a positive weekly candle close in the previous week closing abv 60. Still the last week's high is acting as a resistance and selling is coming at that level. Expect that the stock is trying to give a breakout and in such scenario's often the long are first cut out by a steep decline and the a bounce is given . Such pattern suggest a flag making and can make a sharp rise if given weekly closing abv last weeks high. :)
VEDL Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
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Regarding scrip , i was looking for reversal but seems its due for one more flash drop or compressed drop in price wise
You can look and see how Wave C , 5th wave has extended by it self to another 5 wave, where you will find the wave 4 of extended wave is side ways pattern , and its about to end its Wave A as Prime cycle
You will understand slowly but studly
Good luck