Vedanta Power among 6 stocks showing RSI trending up
Vedanta is in focus with October 14 in focus.
· ET Stocks, Economic Times Markets
Six Nifty500 stocks that gained over 5% on October 14 featured in StockEdge’s RSI Trending Up scan, signalling strengthening price momentum as their Relative Strength Index (RSI) values crossed above 50 from below.
Key facts
- Dates in focus
- October 14
The analysis
Vedanta reported movement of 5%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.6% on the day at ₹246.10, and has returned -5.2% over three months. It sits 69% below its 52-week high, which means a good deal of bad news was already in the price. The metals & mining sector has moved -4.5% over the same period, so Vedanta is running 0.7 points behind its peers.
For Vedanta, the question is how much of this is already reflected in the price and how much re-rates the metals & mining peer set alongside it.
Market context
- The company directly in focus is VEDL.
- Sector exposure: Metals & Mining, Power.
In this story
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