Current Price Action
As of the latest candlestick on the chart, VEDL is trading at ₹419.20. The day's range was between ₹464.10 and ₹471.90, indicating notable intraday volatility, with the closing price settling at ₹468.40.
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Trend Analysis:-
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Volatility and Recovery: The stock shows a significant recent decline from above ₹480 to near ₹380, followed by a sharp recovery. This “V-shaped” rebound suggests strong buying interest near the ₹380 mark—a potential support zone.
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Resistance Zones:
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₹468–₹470: This region appears to act as a strong resistance, as the price failed to sustain above it despite intraday attempts.
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₹480+: The stock previously showed weakness above this level, marking it as a longer-term resistance.
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Support Levels:
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₹380–₹390: Multiple candlestick rejections in this area make it a strong support zone.
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₹400: Psychological support, also reinforced by previous price consolidation.
Conclusion
Vedanta Ltd is currently at a critical juncture. Traders and investors should watch for:
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A breakout above ₹470 for bullish continuation.
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Failure to break this level may result in consolidation or a retest of the ₹400 or ₹380 support zones.
As always, coupling technical analysis with fundamental outlook and news sentiment provides a holistic view before making investment decisions.
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