Technical Portfolio Guide

VEDANTA LTD [EasyDNNnews:PaidContentStart]

CMP: ₹529.55 

BSE Code: 500295 

What’s your take on VEDL? - Manish Kumar 

VEDANTA BREAKS FIFTEEN-YEAR CONSOLIDATION RANGE 

Stock corrected sharply after the US-based short seller Viceroy Research accused the company’s operations of being a ‘ponzi scheme’. But technically, the stock has been in a long-term consolidation since 2010 and has not performed for almost fifteen years. Despite this, it marked a new lifetime high of 491 in December 2024. Recently, it sustained above this lifetime high and confirmed a breakout of the long-term consolidation range, which can trigger a fresh rally with multibagger potential. One should consider entering at current levels with a short-term stoploss at 405 and a long-term stoploss at 335. 

HINDUSTAN COPPER LTD 

CMP: ₹364.40 

BSE Code: 513599 

Holding 1,100 shares of HINDCOPPER from Rs 270, suggest the course of action. - Hetal Shah 

HINDCOPPER CONFIRMS TREND REVERSAL; HIGHER TARGETS ACTIVE 

Stock recently confirmed a trend reversal once it breached the lower-high and lower-low structure. From May 2024, the price corrected and marked a low of Rs 182.88, which is around the 61.8 per cent Fibonacci retracement level of its previous impulse wave. It then bounced and broke the lower-high lower-low structure. Recently, it gave a breakout of a trend reversal pattern around Rs 286, and the pattern has a target potential of Rs 400 and Rs 480 in the medium term. If the buying was for swing trading, you can wait for the first target. The second target is suitable for long-term investors. 

TVS MOTOR COMPANY LTD 

CMP: ₹3647.10 

BSE Code: 532343 

TVS Motor can touch new highs in this auto sector rally? - Jay Desai 

TVS MOTOR EYES FURTHER UPSIDE AFTER CONSOLIDATION BREAKOUT 

In August, the stock marked a breakout of an eleven-month consolidation and rallied after GST reform announcements by PM Modi on August 15. Following the news, it rallied sharply, hit a new lifetime high of Rs 3,720, and is now trading around Rs 3,631. After such long-term consolidation phases, stocks generally rally at least 30 per cent, so targets near Rs 4,100 can be considered. With reforms implemented from September 22, their impact should be visible in Q2 and Q3 results, making this a time-based holding as well. 

PRESTIGE ESTATES PROJECTS LTD 

CMP: ₹1657.20 

BSE Code: 533274 

Should I enter in PRESTIGE at current levels for the long-term? - Nilesh Shah 

PRESTIGE NEEDS A BREAKOUT FOR LONG-TERM CONFIRMATION 

The stock witnessed a strong rebound from Rs 1,048, which is the support zone around the 50 per cent Fibonacci retracement of its initial impulse move. After this rebound, it faced resistance near Rs 1,814, which aligns with a falling trendline drawn from recent swing highs. A decisive breakout above this trendline will confirm a trend reversal by breaking the lower-high lower-low structure. You can start accumulating on every dip of 2 per cent with a stoploss based on your risk appetite, or wait for a breakout above 1,811 for safer long-term confirmation.

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