Vedanta: An interesting play if you have an appetite for risk, charts say

From the chart trends, one can clearly conclude that till Vedanta does not see strong buying and positive close, then the chances of the stock going up seem slim

Vedanta has been in news over the past few weeks given its bid to delist shares from the bourses. The company failed to get the minimum bids required to delist, the indicative discovered price for the commodity major came in at Rs 320, 3.7x its floor price.

Meanwhile, according to reports, various aspects of Vedanta’s failed delisting bid have come under the Securities and Exchange Board of India’s (Sebi’s) scanner. READ ABOUT IT HERE

On Tuesday, the stock hit an intra-day high of Rs 103.95 on the BSE, up nearly 6 per cent. In comparison, the S&P BSE Sensex was