Vedanta Limited Stock Forecast
Green day on Friday for Vedanta Limited
(Updated on May 17, 2024)
The Vedanta Limited stock price gained 2.22% on the last trading day (Friday, 17th May 2024), rising from ₹433.05 to ₹442.65. During the last trading day the stock fluctuated 2.87% from a day low at ₹432.60 to a day high of ₹445.00. The price has risen in 6 of the last 10 days and is up by 6.5% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 13 million shares were bought and sold for approximately ₹5.92 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹448.96 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 80.23% during the next 3 months and, with a 90% probability hold a price between ₹718.12 and ₹809.14 at the end of this 3-month period.
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VEDL.NS Signals & Forecast
The Vedanta Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹423.58 and ₹376.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 12.16%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Vedanta Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹372.95 and ₹370.55. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Vedanta Limited finds support just below today's level at ₹372.95. If this is broken, then the next support from accumulated volume will be at ₹370.55 and ₹361.80.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹12.40 between high and low, or 2.87%. For the last week, the stock has had daily average volatility of 4.17%.
Our recommended stop-loss: ₹428.49 (-3.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (VEDL.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Vedanta Limited to open at ₹440.08, and during the day (based on 14 day Average True Range), to move between ₹426.78 and ₹458.52, which gives a possible trading interval of +/-₹15.87 (+/-3.59%) up or down from last closing price. If Vedanta Limited takes out the full calculated possible swing range there will be an estimated 7.17% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹372.95, some ₹69.70 (15.75%) from the current price of ₹442.65, our system finds the risk reward attractive.
Is Vedanta Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Vedanta Limited stock to perform well in the short-term.
Current score: 4.408 Buy Candidate Unchanged
Predicted Opening Price for Vedanta Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹440.08 ( 0.580%) | ₹442.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VEDL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 452.48 | 2.22 % | |
| R2 | 447.75 | 1.15 % | ||
| R1 | 444.82 | 0.490 % | ||
| Current price: | 442.65 | |||
| Support | S1 | 435.35 | -1.65 % | |
| S2 | 432.42 | -2.31 % | ||
| S3 | 427.68 | -3.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 442.65 | |||
| Support | S1 | 372.95 | -15.75% | |
| S2 | 370.55 | -16.29% | ||
| S3 | 361.80 | -18.26% |
VEDL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | Jun 06, 2024 | ₹10.00 | 2.26% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | ₹0 | 0% |
| 3 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ₹18.50 | 6.48% |
| 4 | Apr 06, 2023 | Apr 06, 2023 | Apr 06, 2023 | ₹20.50 | 7.50% |
| 5 | Feb 03, 2023 | Feb 03, 2023 | Feb 03, 2023 | ₹12.50 | 3.98% |
FAQ
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