VEDL Signals Bearish Reversal: Breaking Key Support with Sector Weakness.

https://preview.redd.it/97ro8m3mdqce1.jpg?width=1920&format=pjpg&auto=webp&s=6e77140e8dc18e1c9f9796e4116abdd2992fe183 https://preview.redd.it/gnjo6j2ndqce1.jpg?width=1920&format=pjpg&auto=webp&s=edc995b13cc21aff120716064fbe4c0d5517414b VEDL has started to turn bearish. After reaching an all-time high, instead of continuing its uptrend, it formed a channel and broke below the support trendline, accompanied by RSI divergence. The RMI is signaling a sell across all time frames, except for the monthly chart, which is on the verge of a bearish crossover. Additionally, VEDL is trading below the 40 EMA and the 20 SMA of the Bollinger Bands on both daily and weekly charts. Supporting this downtrend, the Nifty Metal index is showing signs of weakness. Initially, it appeared to be gaining momentum, moving from the lagging to the improving quadrant on the Relative Rotation Graph (RRG), but it has now fallen back into the lagging quadrant, indicating strong bearish sentiment in the sector.