Sell Vedanta, target Rs 273: Abhishek Mondal

A bird flies by the Vedanta office building in Mumbai August 16, 2010. India-focused miner Vedanta Resources said it will buy 51-60 percent of Cairn India for about $8.5-9.6 billion in cash to be funded via debt and cash resources, a move that would represent Vedanta's first foray into oil and gas, and help Edinburgh-based Cairn Energy fund an expensive drilling programme in Greenland. REUTERS/Danish Siddiqui (INDIA - Tags: BUSINESS ENERGY) - RTXSAAV

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26 Aug, 2025 12:21

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Abhishek Mondal

Vedanta has been struggling around the resistance zone of multiple moving averages with moderate volumes on the daily charts.

The daily Relative strength index (RSI) is showing downward momentum and MACD is trading below the signal line below zero level, which indicates a bearish trend.

A trader can sell the stock after some technical bounce back around Rs 288-290 with a stop loss above Rs 299 (closing basis) for a target of Rs 273.

Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.