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The short-term outlook is bullish for Vaibhav Global. The stock price surged over 17 per cent last week. This rise has taken it well above two major resistances, one at ₹450 and the other at ₹490. This level of ₹490 will now act as a good resistance-turned-support. Intermediate dips are likely to be limited to ₹490. Moving average cross-overs on the daily chart also strengthen the bullish case. Vaibhav Global share price can rise to ₹570 in the next three-four weeks or even earlier than that. Traders can go long now. Accumulate on dips at ₹498. Keep an initial stop-loss at ₹478. Trail the stop-loss up to ₹515 as soon as the stock moves up to ₹527. Move the stop-loss further up to ₹545 when the price touches ₹555. Exit the long positions at ₹565.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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