Vedanta shares hold Rs 300 level for seven days; analysts share price targets 

Vedanta share price: Shares of Vedanta Ltd have managed to remain above the key Rs 300 mark for the last seven sessions. In fact, the metal major's stock rose 10% since May 11. On the other hand, Sensex has slipped 1.14% in seven sessions. Vedanta stock is trading near the oversold zone as the stock's RSI lies at 30. Vedanta shares have fallen 58% from the 52-week high of Rs 340.70 reached on May 14. 

The metal major's shares trade higher than the 5 day, 10 day but lower than the 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. 

A rise in the global metal prices, crude oil and gas policies and demand outlook from China triggered a rally in the Vedanta stock in the short term. 

The bull run in the Vedanta stock took it to a fresh 52 week high of Rs 304.70 on May 14. Vedanta shares have gained 36% in three months and 83% in six months. The stock has risen 230% in three years and 862% in ten years. 

In the current session, Vedanta stock was trading on a flat note at Rs 335.65. Market cap of the firm slipped to Rs 1.31 lakh crore. A total of 8.65 lakh shares of the firm changed hands amounting to a turnover of Rs 29.09 crore. Later, the stock ended 1.10% lower at Rs 333.85.   

With technicals suggesting bullish momentum in the short term, here's a look at what analysts said on the outlook of Vedanta stock. 

Jigar S Patel from Anand Rathi said, "Support is placed at Rs 320, while resistance stands at Rs 340. A decisive breakout above Rs 340 could open the door for further upside towards Rs 350. For the short term, the stock is expected to trade within the Rs 320 – Rs 350 range."

Virat Jagad, Sr. Technical Research Analyst at Bonanza said, "Vedanta has maintained a strong bullish structure after decisively breaking above the key resistance zone near Rs 300, supported by rising volumes and sustained trading above all major moving averages. The stock continues to form higher highs and higher lows, indicating strong momentum and positive trend continuation. The recent breakout from a broad consolidation range suggests renewed investor participation and potential continuation of the uptrend. Technically, the stock appears well positioned to move toward the Rs 350–365 zone in the near term, while immediate support is placed around Rs 300–305 on any corrective decline."