NSE:VEDL on the H4 chart approaching oversold zone on the RSI which is coinciding with the bottom of the sideways channel formation and on the daily charts we can see that is currently in the mid green zone on RSI, price could test 139 levels. Watch out if the price bounces off support , if yes, may go upwards toward the upper channel. Ideally, don't trade the...
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)...
NSE:VEDL currently at about 160.95 looks to be forming an uptrend making higher highs and higher lows as indicated in the chart over the price action Note this is a trade set up to go long. I would like to wait for price make a higher high first in this move (close on daily charts above 166 levels) and then hopefully retrace and make higher lows (should close...
IS VEDANTA MAKING CUP WITH HANDLE? BREAKOUT HAS INCREASED VOL, PLS COMMENT
Looking at the Daily time frame, it is highly probable that Vedanta is now entering the B wave of the ABC pattern. It is expected to ultimately test the recent high's of the A wave. Since this is a B wave, I expect to see a lot of consolidation along the way, it could be a slow and stretched move to the top. I would advise caution if selling coz the downward...
NSE:VEDL is trying to get back from a fall by gaining from a 52 Week low 221.60 but it still continue in downward. It struggling more to get back if it opens above 240 in coming week it ll'be back to uptrend. 240 is a breakout point.
VEDL has been in correction phase after the impulse move and is experiencing resistance on the upside. if it breaks through that pattern downside, it may fill the Gap and moreover it can test the 230 Whole number . If it breaks to the upside, Then the trade will become invalid. Enter According to the price action.
VEDL spot on Daily chart. On weekly, u will see upmove was corrective to prior downmove. U see multiple MACD/Fisher divergences on weekly/daily/hourly. Plus a potential ED marked in green and targeting 204 in next 11 days targeting the purple line. What further confirmed top was selling excess at 276.
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.