VEDL is very close to completing a 5 wave structure that started in Feb 2016. We are currently in wave 5 of 5, which should complete very soon. The stock has given almost 5x returns in 1 year, expect the correction to be relatively sharp.
Both Cairn and Vedanta are going to pull each other. Vednta has just broken 500DMA and will be a free fall from here until it finds support at 50DMA.
Extremely rewarding trade with upside of 13% and stoploss of 2%
CAIRN chart is corroborated with drop in USOIL prices. It is a high conviction trade.