Why Vedanta share price is nosediving — explained
Vedanta share price today gave breakdown at ₹280 in early morning deal
Vedanta share price has been nosediving for last four straight sessions. Vedanta share price today opened lower on fourth day in a row and hit intraday low of ₹261.95 apiece on NSE, logging around 13.50 per cent dip in this time. According to stock market experts, Vedanta shares are under sell off pressure due to negative sentiments after the road block in its acquisition of state-owned Hindustan Zinc and sharp rise in US dollar that led to depreciation of Vedanta bond yield to 'junk' levels. They said that Vedanta stocks may continue to go downwards as the metal stock has given breakdown at ₹280 and now it has support placed at ₹240 to ₹230 zone.
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