MTF Stock Pick Buy Vedanta Ltd For Target Rs. 310 - HDFC Securities
MTF Stock Pick Buy Vedanta Ltd For Target Rs. 310 - HDFC Securities
TECHNICAL OBSERVATIONS
VEDL is in strong uptrend on Major time frame. After making a life high on 10th May 2021 it started correcting and halted near 242 levels which also coincide with 61.8% Fibonacci retracement level drawn by connecting low of 209 to high 296.
It also took multiple support of bullish trend line and resumed its upward momentum along with huge volumes.
RSI 14 on the Weekly time frame has taken support of 60 level and now moving higher.
+DMI & ADX is well placed above 25 level is observed on the weekly chart which indicates that bulls are in control.
Primary trend of the stock has been bullish as stock has been forming higher tops and higher bottoms on the daily and weekly charts.
Stock is placed above medium to long term moving averages, indicating bullish trend on all time frames
Buy Vedanta Ltd Up to 3 Months @ Average level 263 CMP 281.85 TGT 310 SL 253
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