Vedanta completed it's 3rd wave a month back at 175.80 and since then has been consolidating in ar range of 160 on downside and 180 on the Upside.
Today the breakout from that range happened on high volumes embarking the start of a fresh impulse as 5th wave.
Considering the vth wave is equal in Price to the 1st wave a minimum target of 200 to 210 is likely
Hindalco has fallen sharply in last 5 days from a high of 164.70 to a low of 138.55 a fall of more than 26 rupees equivalent to 18% sharp fall in no time.
Stock is now moving up and if the fall is five waves then one can expect the stock to retrace the fall by around 50% to levels of around 150-152.Buy on dips.
