Vaibhav Global appears to have emerged from a prolonged period of sideways consolidation, marking a significant breakout. Following the breakout, a corrective wave (ABC pattern) ensued, bringing the prices back to its golden buying zone. Subsequently, the prices have initiated an upward movement from this pivotal zone, indicating a potential buying opportunity.
📈 This development suggests a favorable outlook with initial upward targets set between 557 to 574. However, it's noteworthy that these levels might pose as initial resistance, particularly on a broader time frame. Upon surpassing this resistance level, which may involve a retracement ranging between 35% to 50%, the prices could witness further upward momentum, potentially targeting 661.
For traders operating within shorter time frames, it's advisable to set an initial stop loss at 421, while investors may consider a slightly lower stop loss at 394 to manage risk effectively. This strategic approach aligns with capitalizing on the current buying opportunity while adhering to prudent risk management practices. 🛡️
📈 This development suggests a favorable outlook with initial upward targets set between 557 to 574. However, it's noteworthy that these levels might pose as initial resistance, particularly on a broader time frame. Upon surpassing this resistance level, which may involve a retracement ranging between 35% to 50%, the prices could witness further upward momentum, potentially targeting 661.
For traders operating within shorter time frames, it's advisable to set an initial stop loss at 421, while investors may consider a slightly lower stop loss at 394 to manage risk effectively. This strategic approach aligns with capitalizing on the current buying opportunity while adhering to prudent risk management practices. 🛡️