VEDL

share price falls 3%; Kunal Parar tells entry level

Vedanta Share Price: Vedanta Ltd shares fell 3 per cent in early trade on Thursday, January 8, due profit-booking following a sharp rally of around 20 per cent in the last one month. The weakness in Vedanta mirrored the broader metal space, with the Nifty Metal index emerging as the top loser, slipping 1.80 per cent. On the NSE, Vedanta shares opened lower at Rs 619 versus the previous close of Rs 622.20 and continued to decline in early deals. The stock touched a low of Rs 601.35, down over 3 per cent. Around 10 am, the shares were trading about 2.86 per cent lower at Rs 640.40. More than 53 lakh shares of the mining company changed hands within the first 45 minutes of the session. It was among the top losers in the Nifty Metal pack. From technical standpoint, Vedanta shares are trading above its 20-day, 50-day, 100-day and 200-day moving averages, suggesting that the broader trend continues to remain positive.