LoveForCharts

Vedanta - Daily charts - sideways

NSE:VEDL   VEDANTA LIMITED
As discussed in my previous charts, NSE:VEDL was looking to make a move from Downtrend to an uptrend by breaking the previous high and making higher low. We were looking for a continuation of this and wanted to see more confirmation by another higher high and higher low being created.

However what we are seeing is a congestion zone (more of a rectangle channel) where price has failed to make a higher high and also found buying support at higher lows. I think still some bearishness prevails and any fresh entry in this stock must be taken seeking confirmation of trend change!

Look out for this space for more details

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Linking my previous chart as well

Cheers
Nov 17
Comment: Critical level approaching.. Price may find support at 139ish levels...could bounce upwards..Watch out for breakouts .
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