Its price may have fallen almost 40 per cent since early March, but there's no sign of any recovery yet on Vedanta's chart, says Ragu Dharmaratnam of Baselica.
Despite its decline, its daily relative strength has yet to become truly oversold. If it breaks below the current floor at 900p, a further cascade to the next major support level at 600p may follow. Traders should consider shorting at 900p, placing a stop-loss around 1,050p.
