"Trading Strategies for Vedanta, Tata Steel, and Navin Fluorine in the Current Market"

In the midst of a fluctuating market, several stocks, including Tata Steel, Vedanta, and Navin Fluorine International, are garnering attention. Here are insights and trading strategies provided by Pravesh Gour, Senior Technical Analyst at Swastika Investmart, to navigate these stocks in the upcoming trading session.


**Navin Fluorine International:** Cautious | Resistance: Rs 3,670 | Support: Rs 3,270

- Navin Fluorine has recently experienced a breakdown of a head and shoulders pattern with strong volumes and witnessed a breakdown of a channel formation on the weekly chart.


- The stock is trading below crucial moving averages, and both the MACD and RSI indicators are in negative territory.

- The critical support level stands at Rs 3,670. If breached, it could lead to a significant decline toward Rs 3,270. On the upside, Rs 4,000 represents a major resistance level.


**Vedanta:** Cautious | Resistance: Rs 240-250 | Support: Rs 210

- Vedanta, currently in a downward trend, displayed a strong recovery from the Rs 210–214 range in recent trading sessions, accompanied by robust volumes. This range served as a multi-year support for the stock.

- Although the overall structure is distorted with the stock trading below key moving averages, there is a demand zone near Rs 210–214.

- The immediate susceptible area on the upside is Rs 240; exceeding this, the stock may rally towards Rs 250 in the near term. Rs 210 serves as an immediate demand level.


**Tata Steel:** Hold | Target Price: Rs 142 | Stop Loss: Rs 123

- Tata Steel exhibited a breakout of a triangle formation on the daily chart. Following a retest of the previous breakout, it initiated a new upward movement toward Rs 135.

- The overall structure appears favorable for short-term trading, with the stock trading above essential moving averages.

- The near-term susceptible level is Rs 135; beyond this, the target is set at Rs 142.

- Traders are advised to implement a stop-loss at Rs 123.


Please note that the information provided is for informational purposes only, and it's advisable to consult a qualified financial advisor before making investment decisions.


These trading strategies provide insights into how to navigate these specific stocks in the current market conditions.

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