VEDL trade ideas
vedlNSE:VEDL
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VEDL is looking bullish for swing tradeThere is a symmetrical triangle pattern formation in VEDL. It is creating higher lows from the bottom and lower highs from the top. Previously also it created the same pattern and gave a huge up move after the break of it. So, we can enter this stock at 336 and put our stop loss below the trendline. The point here to note is that we are entering the trade before the breakout as we are getting a good risk to reward opportunity. We can square off half our quantity as the price reaches the above trendline and trail our stop loss. And if the breakout happens then we can add more quantity.
VEDANTA - upside breakoutVedanta 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 of 18,39,66,001 today.