VEDL trade ideas
VedantaThe entire metal pack has been witnessing a bullish pattern this past week. I have tracking VEDL from 135 levels with a first target of 145. Now, that been achieved today and a confirmation for a breakout is now in place. Go long with a target of around 160. 145 CE is worth looking into for this series
VEDL Long Setup [Intraday]NSE:VEDL Long setup at 136.90 with SL at 136 and TP 138.70
Note:
Consult your registered adviser before taking any decision.
Always risk 1% of account size per trade, adjust the position size accordingly.
VedantaLikely zone where it could reverse, will not look to short from here on ! if you enter, enter with proper sl and go real long !
Looking GoodPrice above 139 looks good for 145+. Enter with a conformation on the ascending triangle breakout. ITS SIMPLE no rocket science. Stay with TREND.
VEDANTA CHARTBullish Shark Pattern formed.
Also Bullish Engulfing formed @downtrend.
So it represents Bullishness in Stock.
Long above 139.25
Targets are 139.75,141.1,142.9,144.8,146.55,148.1,152.2++
SL-138
Sell below 136.45
Targets are 134.4,129.3,125.3,127.55
SL-138.35
Descending Scallop but Other ObservationsPrice movement at the current level makes the chart very interesting. It has formed Descending Scallop pattern and gave breakout with good volume that could have drag the prices to 120 level. However it made a strong bar yesterday and thus formed divergence in RSI oversold Area. So I would prefer to consider it a failed Scallop breakout pattern and look for a opportunity now.
One can go long at the current level by providing Stop Loss of recent low and look for a target of 160.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
VEDL || SHORTSome institutional sell is going on, we may see some downtrend if it continues
If it breaks 153 level, then we may see 143, 135
Possible UPSIDE for 151/157Price can breakout from hourly downtrend. One can enter after 146 with confirmation for 151/157. Although price on hourly is down however as it is squeezing possibility of breakout is there. Short below 140 for deep downside till 120.
VEDL: Symmetrical Triangle Breakout!Vedanta has been in a down trend for about a year and half. This stock has been consolidating in the form of a symmetrical triangle which now appears to be broken. It does look like a good opportunity to join this SHORT ride!
Vedanta is bottomed out. There is divergence seen in vedanta ( both in RSI & MACD). The has very high probability of going up from here.
