Vedanta share price dropped by more than one percent during Monday’s trading session, reflecting a weak trend in the market. The Indian stock market is encountering challenges due to ongoing selling by foreign institutional investors and global uncertainties associated with Trump tariffs. Nevertheless, experts suggest that the trend of ‘Sell India, Buy China’ may persist for a while, as Chinese stocks remain appealing.
Riyank Arora, Technical Analyst, Mehta Equities Ltd explained that Vedanta share price is having bullish formation on technical charts. Resistance is placed at 440 odd levels above which the next resistance is placed near 450 mark. A strict stoploss should be kept at 425 level for all existing longs as the overall outlook on metal stocks remain positive.
Vedanta announced on Friday that it has been chosen as the preferred bidder for a diamond mine located in Madhya Pradesh. The company stated that its final bid offers 1.10 percent, making it the highest bidder. In a regulatory filing, Vedanta confirmed that it has been designated as the ‘Preferred Bidder’ for the Kauhari Diamond Block.
