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Longconsolidation

Vedanta's Panja-Boodha ShaktiVedanta is in limelight for 2 major reasons. 1. Upcoming Vertical Demerger of Vedanta into 5 different stocks (The Panja-Boodhas) - Apart from the technical breakout levels, the demerger is going to lead to a humungous gain to the shareholders when each of the stock is going to rise to higher levels individually 2. The 16 year Long Box Pattern Consolidation and Breakout A picture is worth 1000 words... Vedanta ATH 495 created in 2008 me. 16 years ka vanvaas se bahar aane ja time hai abhi. Long Term View: Quarterly Chart - The Box Pattern has a Depth of 435 Points which will become the Long Term Target after Breakout above 495 - the previous ATH level. Yes it will struggle a tiny bit when it tests 495 but that's not consolidation Long Term Target: 930 Short-Medium Term View: Monthly Chart - Price has recently Broken out of a Rounding Bottom Pattern above 440 for target of 690 The Big Rise from 2020 and subsequent retracement made in 2022 is at Fib 0.618 level - The Golden Ratio which is a strong sign of powerful bullish rally Short Term Target: 585 (Fib 1.0 Level), 690 (Fib 1.272 + Rounding Bottom Target) Medium Term Target: 825 (Fib 1.618) Reading Books is good, but kabhi kabhi theory chodke kuch picture bhi dekho. Books ka Black and White Print me Hariyali nahi dhikhayi deta. Samaj liya ? 😍 Disclaimer: 3+ Years Teaching Experience in Stock Market - Technical Analysis, Behaviour Analysis, Advanced Patterns, Emotional Management, News based Trading... We are NOT SEBI Registered and Our focus is NOT providing Buy/Sell Recommendations/calls. Primary Objective is to provide detailed analysis of how to review a chart, explain multi-timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide irrespective of its Side" *** Important *** Consult your Financial Advisors before taking any positions If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:VEDLLong
by Stocks-n-Trends
Vedanta chanting the Vedas for a BlastVedanta - A picture is worth 1000 words... Vedanta ATH 495 created in 2008 me. 16 years ka vanvaas se bahar aane ja time hai abhi The bottom of the box is 60 and top.of the box is 495 From 2020, Vedl is making efforts to go higher - sideways - higher to ensure it gathers enough power to BO 495 Yes it will struggle a tiny bit when it tests 495 but that's not consolidation The last major fall in Vedanta had a Fib Golden Ratio Retracmernt of 0.618 levels and from there the stock has blasted like a Rocket Next Targets are 575, 875, 930 Reading Books is good, but kabhi kabhi theory chodke kuch picture bhi dekho. Books ka Black and White Print me Hariyali nahi dhikhayi deta. Samaj liya ? 😍
NSE:VEDLLong
by Stocks-n-Trends
4200: an important level to pay attention to - wider look at S&PMy main view on S&P500 is that we're in a main bearish trend, that has been fought by the bulls since October, 2022, when prices started going up. However, this insurgency has faced a good deal of resistance, resulting in unstable volume, and back and forth moves. Despite all of that, the secondary trend kept heading north. It can be summarized using technical analysis by drawing an incipient uptrend channel formed by this situation (orange dotted lines). This up move came with some factors that strengthened the movement: the breakout of the main bearish trend line; the breakout of the 200 simple moving average; a pullback to these indicators; and the continuation of the uptrend after the pullback. These are important movements and one cannot simply look the other way and ignore them. Now the prices are very close to approaching a new challenge, that is to overcome the resistance level at 4200. That, besides being a round number, was also the level of many previous bottoms and tops since more than a year ago (specifically since January, 2022). Not only that, but it was also the pivot point breakdown responsible for confirming the beginning of last year's bear market (this is indicated in the chart by the violet arrow path and the explosion emoji). All of this makes 4200 very representative for the current market, but it is also relevant for the current profit situation of many 2021 and 2022 accounts, since above this level such accounts would come back to breakeven, and that has the potential to re-inflate the euphoria between market participants that were waiting for such a moment. I am longing to see what is going to happen here around this resistance level. An up breakout would be the final signal the bulls are waiting for the trend reversion confirmation and a sound continuation of the incipient bull market trend. But this may not happen, and the strong resistance level could work out one more time, especially considering that we’re near the negative "sell in May and go away" seasonality. In that case, we could wait for the continuation of this sleepy congestion that has been happening, or maybe, with some more action involved, we could have the return of a roaring bear market.
SP:SPX
by thessia_