Vedanta has been in a downtrend for sometime, despite strong fundamentals, amid global pressure on metals due to trade war and other macro-economic factors. We're in a squeeze and a break above the resistance trend line could deliver a great buying opportunity for this natural resources stock.
Uranium prices seems to have contracted and could soon provide a good and strong break out. The possibility of an upside break seems higher.
However, one must remember how this commodity has disappointed investors on several occasions in the past.
The Nifty50 is at the long term resistance line which it has failed to broke ever since the great recession. It also looks to be in last leg of it's bullish wave and the bearish impulse could begin anytime.
Considering the retracement zones, a bearish grip could pull the Nikkei to near 18k price points. The Yen is losing it's haven-like reputation with Japan's national debt on the rise at almost 2.5x of GDP.