As mentioned in the 1st May post, Vedanta has moved upto around 440 levels with a clear RSI divergence on daily chart under formation since mid of April. Currently, the risk reward ratio doesn’t seem favourable and RSI needs to cool down as well. It is safer to book profits at these levels and wait for a healthy correction (in the form of Wave 2) for any fresh entry. Any movement above 440 levels may seem exciting but could also be a trap. Let’s be watchful.
Not all stocks in a sector move in tandem. Each has its own journey and timing. This is not a trade recommendation. Please do your own due diligence/analysis.
Not all stocks in a sector move in tandem. Each has its own journey and timing. This is not a trade recommendation. Please do your own due diligence/analysis.
