We have a Super strong Fundamentals as they have recently acquired the semiconductor firm.
Also the Price has reacted to a Weekly Demand and Now has also started violating Supplys and respecting Demands hence Buying as the Reward to Risk ratio is favourable.
Price has a Monthly Supply formed and has to reach it in order to continue the downtrend,
Therefore we have a Weekly Demand which will drive the Price till the Monthly Supply area, the Reward to Risk ratio is 3:1
ENJOY THE RIDE ! ! !
Will VEDANTA be the next ADANI Enterprises?
Broader outlook says it broke out of the decade long sideways trend and is heading for a retest before a massive upside.
A clear Head & Shoulder pattern is visible in daily timeframe , as per the pattern the technical target is around 190 level which also lies in confluence with trendline support.
Volume shows the...
Vedanta forms a Bullish triangle kind off pattern and if the pattern completes in the next few days we could probably see the levels of 400 in this counter, however 385.90 remains a previous demand zone.
So I have paced a buy call above 373.20 for a Target of 421 with a stop of 334.10.
Look out for good volume size of more than 16.00M
As per NSE we had volumes...
