NSE:VEDL Vedanta looks promising and ready for upmove, Cosidering the global scenario and the rise for demand in copper and semiconductors. Vedanta stood strong and our charts also shows a leg up trajectory.
VEDANTA chart have successfully bounced from 0.618 Fibonacci forming a double bottom pattern and currently trading at 269 which is again at weekly support of...
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 reacted to a Weekly Demand and has confirmed an Uptrend as per the Daily chart,
Yesterday Price gave a pullback into a Daily Demand with an amazing reward for the risk.
ENJOY THE RIDE ! ! !
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 ! ! !
Vedanta is currently forming a bullish flag pattern
Anytime if it breaks resistance with volumes then it can reach Target 1 and Target 2 in no time
Only hinderance will be dividend record date if it recovers the dividend deduction in quick sessions then the current play will give great returns
Currently I see a breakout might happen above resistance...
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...
This stock is in wave 3rd of higher degree wave 5th, given breakout with good intensity of volume along with the upper bbc, macd and other indicators are also suggesting up move ahead towards north, one can go long at these levels or in dips with key levels mentioned on chart.
Wave Structure could be like this
Key Levels are mentioned on chart
macd in Weekly...
Multiple time resistance has been tested possible upside coming.. only trade uptrend ..
stock took the bounce from expected custom fib level ...
take trade from 108 with target 111 -> 115
Price at trend line Support if any Daily candle close above the support of trend line than we can see price can touch the Last 5th wave of the Elliot Wave.
Looks good look into this setup and pay attention to Monday closing of the market
