VEDL trade ideas
LONG IDEA ON VEDANTA LIMITEDBUY ABOVE 155 WITH SL AT 141 FOR TARGET OF 176
IT WILL TAKE ATLEAST 1 MONTH TO REACH THE TARGET
RISK:REWARD=1:1.75
VEDANTA POSITIONAL LONGVedanta has given a breakout on daily charts with good time. RSI has also given a breakout and MACD is bullish. Go long at CMP-159. TGT1)-170. TGT2)-178. SL-153.
Long Straddle in VEDENTA LTD.Apply Long Straddle in VEDL as high delivery is seen in NSE Reports as traders are expecting a dividend declaration of 10% but Charts are showing a Downmove
Option Chain Data suggest Strong Resistance at 150 level and Support is at 140 level but on 1-minute charts, closing has taken place with a Hammer Candlestick which has also Penetrated psychological Resistance which shows High Bullish Sentiment.
Most Probably we may see an up move soon but to be on a safe side we are applying Long Straddle at 145 Strike
Call Premium is 3 Rupees
Put Premium is 2.45 Rupees
Call Delta is 0.55
Put Delta is -0.45
Net Delta is 0.1
We will but 1 Lot of VEDL which is 3000
Our Position's Delta will be 300
So although we want our positions to be Neutral the Hedging has lead to a Long Position but as our View is Bullish we are good to go now just let the market do its thing.
Happy Trading.....
Many Hurdles for #Vedanta Limited . #NSE #BSE #NIFTY Many Target Levels for Vedanta Limited . NSE:VEDL
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.
BREAKOUT seems VEDL has given breakout after four weeks of consolidation ,can be bought here at cmp 149 with sl below this week candle.
