Vedanta has been approaching channel support by losing a gain today and ended with bearish sign, it may be approaching the channel support around 261.
vedl and cairn both showing strength on charts ,buy vedl sl 259, target 272 buy cairn sl 290 target 305
Vedanta closed inside the channel forming bullish hammer, we may expect the stock to see upside upto the level of 263 in till weekend.
but around current level 265 target at channel resistance 285 sl at channel support 252
Here, I have analysed Vedanta which will guide me in making trading decisions for it , for the coming week. I'll wait for any opportunity that provides good RR. Sharing if it helps :)
Traders can buy this with small SL on close below 246. Target 278, 300 Investment targets can be 400 with SL below 200
Vedanta is consolidating at the support zone before it moves up to break the downward trend line. TSI is moving upside and RSI's hidden bullish divergence indicates the price action is turning to be positive. Close above 249, downward trend line break will make the price to reach the targets 252, 254 and 257. Stoploss is 248. Always follow your trading plan.
Bullish Bat pattern observed with stock trading at support level of 249. We can see targets of 265 in next week itself.
long Vedanta which has formed Gatley Pattern for Target of 262 and them 274
Amidst the volatile market of UP Election Match, Can Vedanta get back the Momentum to stay in Channel and rally to 300.(Like Sehwag or is it the mighty Dravid whose best Test Score is 270) From the last 2 trading session entire metal team has lost some steam and NIFTYMET index was at 2 years High on Last Monday(Rally was led by Hindalco, Tata Steel, Coal...
Vedanta seems to have broken trend line and may go further down from this level,we can see the stock to see the short entry up to 255.
Last time it was bounced from fib retracement 61.8% (254.81) & this time it's near to 78.6% (259.3) to make or brake. R1 : 263 R2 : 265.40 R3 : 267.85 S1 : 259.30 S2 : 255.10 S3 : 245.50 I am expecting it has to bounce from 260 levels to upside. ***This is for educational purpose only***
Let's see if we get breakout above 270.9... or divergence support reversal from resistance.
Vedanta has been trading in uptrend in a channel it has closed today at resistance and may retrace to support around 260 in near term.
It is been observed on the Daily Chart that the price action firstly breaks above the strong resistance levels of 248 levels and then retested the resistance and confirmed it as strong support levels. Now, it shall further go up to next resistance levels at around 270 levels. Target 1: 260 Target 2: 269 Stoploss: 248