As seen Vedanta Limited has been in a strong uptrend and has formed a cup and handle pattern in the daily charts. A Breakout of this pattern would be our entry. As seen 225-227 levels has acted as an important support and then as an important resistance, which it failed to break on a couple of occasions as seen by the downward red arrows.
It is bullish in the larger time frame as well.
Expected levels- 250, 260. If holding is period is more than 6 months then target would be the height of the cup i.e around 370 levels.
It is bullish in the larger time frame as well.
Expected levels- 250, 260. If holding is period is more than 6 months then target would be the height of the cup i.e around 370 levels.
