I thought to enter into Vaibhav Global but it looks like this is going into downtrend. Reasons:
1. Rising Wedge Consolidation in progress
2. Negative Divergence supported by MACD
3. Negative Divergence supported by RSI.
I will wait for this correction to get over and then enter at right location.
This is my analysis . I do not recommend any entry. Use your judgement, wisdom and analysis for entry.
Looks like descending triangle consolidation breakout will happen soon and then eventually symmetrical triangle breakout. Be Dynamic and change your strategy as per market move. Stop Loss should be on individual risk appetite.
Watch out on Breakout Confirmation: Some traders apply a price (3% break) or time (sustained for 3 days) filter to confirm validity. The breakout should occur with an expansion in volume, especially on upside breakouts.
Note: This is my analysis and do not recommend to anyone to take entry. Use your wisdom and analysis to take your entry.
Since Symmetrical Triangle chart pattern is neutral in nature so it might be a continuation or trend reversal based on where breakout happens. VG has been exceptionally super strong from very long time so I do not find any reason for reversal but Watch! Watch! Watch!
Note: This is not a recommendation, this is my personal analysis. Do not buy based on my...