Vedanta: Rangebound No More? Positive News & RSI Support Upside
Güncellendi
"Vedanta Limited: Rangebound No More? Positive News & RSI Support for Upside"
Stock: Vedanta Limited
Analysis:
Vedanta Limited has been consolidating within a range for the past few months, despite showcasing excellent financials. Today’s news about the release of encumbrances could act as a catalyst for a price breakout.
Key Highlights:
Positive Rating Update: Long-term credit rating upgraded to AA by CRISIL, boosting investor confidence.
RSI in Strong Zone: Indicates momentum is building, with fresh demand likely near the CMP.
Support & Resistance Levels:
Support Zone: ₹448–₹436.
Immediate Resistance: ₹470–₹477. A close above ₹477 could trigger a move toward ₹505–₹522.
Technical Setup:
Consolidation Phase: The stock is poised to break out of its range with the support of favorable news and improving sentiment.
Volume Watch: Monitor for a volume uptick to confirm the breakout.
Trade Plan:
Entry: Near current levels or above ₹477 for confirmation.
Targets: ₹505 (short-term), ₹522 (mid-term).
Stop Loss: Below ₹436 to manage risks.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
Stock: Vedanta Limited
Analysis:
Vedanta Limited has been consolidating within a range for the past few months, despite showcasing excellent financials. Today’s news about the release of encumbrances could act as a catalyst for a price breakout.
Key Highlights:
Positive Rating Update: Long-term credit rating upgraded to AA by CRISIL, boosting investor confidence.
RSI in Strong Zone: Indicates momentum is building, with fresh demand likely near the CMP.
Support & Resistance Levels:
Support Zone: ₹448–₹436.
Immediate Resistance: ₹470–₹477. A close above ₹477 could trigger a move toward ₹505–₹522.
Technical Setup:
Consolidation Phase: The stock is poised to break out of its range with the support of favorable news and improving sentiment.
Volume Watch: Monitor for a volume uptick to confirm the breakout.
Trade Plan:
Entry: Near current levels or above ₹477 for confirmation.
Targets: ₹505 (short-term), ₹522 (mid-term).
Stop Loss: Below ₹436 to manage risks.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
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The stock is still strong for further upmoves
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