VEDL trade ideas
Sell Trend - VEDLAs per my view, the breakout wil happen at 5th entry in channel at downside and sell continues.
Use ABCD pattern to fix target at Fibonacci 127.2 and second target should be at Fib 161.8.
The B wave.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 spikes can be quick and short. Over the next few days, Vedanta likely will try and keep going up.
VEDL appears bullish on chart but is a sell below 180VEDL is a buy above 190 and sell below 180 for 15-20% target on both side
Gap filling expectedSince it seems institutional traders have sold it with the gab in price...there is change of gab filling to take place in future in nearly months reaching target of maximum 190
