VEDL : A CONSOLIDATION WILL IT BREAKOUT OR WILL IT FIZZLE OUT
Vedanta Ltd. an interesting consolidation to keep on radar
1. RSI on all time frames (Daily, Weekly, Monthly) above 60
2. Narrowing Bollinger Bands on Weekly charts
3. ABCD Pattern under formation in weekly chart
4. Major 20 Day / week SMA support at 425-440 zone
A Breakout in making will it succeed or will it fizzle out
Lets See How it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
1. RSI on all time frames (Daily, Weekly, Monthly) above 60
2. Narrowing Bollinger Bands on Weekly charts
3. ABCD Pattern under formation in weekly chart
4. Major 20 Day / week SMA support at 425-440 zone
A Breakout in making will it succeed or will it fizzle out
Lets See How it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
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