Vedanta Limited (VEDL) Stock - Complete Technical Analysis - Dec 12, 2024

Vedanta Stock Analysis: Key Support & Resistance Levels for Traders

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Vedanta Limited's stock exhibits strong bullish momentum, trading near its 52-week high of 525 after recovering over 114 percent from its yearly low. The overbought RSI level hints at potential consolidation or pullbacks, yet the MACD and Awesome Oscillator support continued bullishness. ADX readings confirm a robust trend, while the Stochastic Oscillator points to a temporary peak.

Moving averages are significantly below the current price, especially the EMA-200 and SMA-200, which reflect long-term strength. The 52-week high of 525 acts as an immediate resistance level, while support is evident around 480-470, making this zone crucial for traders looking to manage risks effectively.

The recent five-day price trend highlights a breakout attempt, with a steady climb from 475 to 522. Sudden price surges, combined with high ATR values, indicate opportunities for short-term traders but warrant caution due to potential volatility. A confirmed breakout above 525 could attract momentum traders targeting higher levels, while a retracement toward 500-480 would present buying opportunities for swing traders.