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CA Omkar Bhutada - SEBI Reg IA

28th Jun · SEBI-Registered Analyst

Vedanta has already shown several signs of weakness, and the path of least resistance is currently downward

VEDL
1. Trend Has Already Changed Unlike Fortis, Vedanta's market structure has deteriorated. You can clearly see: ✅ Lower High (₹360) ✅ Sharp decline ✅ Lower High again (around ₹315) ✅ Another Lower High (around ₹305) The stock is now making lower highs, which is the first sign of a bearish trend. 2. Important Support is Breaking The green horizontal line around ₹268–270 has acted as support multiple times. Now price has: broken below it, and closed under it. A former support often becomes resistance after a breakdown. 3. Momentum is Weak Notice the character of the candles: Rally candles are relatively small. Selling candles are much larger and more decisive. That tells you sellers are currently in control. 4. No Strong Buying Reversal Yet A good reversal usually shows: Hammer Bullish engulfing Strong bullish breakout candle High-volume accumulation None of those are evident from this screenshot.

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