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Vijay Kedia, Ashish Kacholia portfolio: After climbing to its lifetime high in May 2021, this multi-national company stock has been in continuously falling trend. On every rise, traders and investors have seen an opportunity to offload their holdings, negating the chances of any bounce back in the counter. The stock we are talking about is Vaibhav Global and it has now come close to its 52-week low of ₹437.55 levels. Vaibhav Global share price today is ₹447 apiece, close to its intraday low of ₹445.60 on NSE.
According to stock market experts, the stock may continue to fall as weakness on chart pattern is still visible. Positional stock market investors in search of quality stock at discounted price should wait for few more time as the stock may go up to ₹380 levels, if it goes below its current support of ₹430 levels.
Speaking on this Vijay Kedia and Ashish Kacholia portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Vaibha Global share price structure still looking weak on chart pattern. It may go down towards ₹400 levels, if it breaks its ₹430 support. On the upper side, the stock is facing resistance at ₹480 to ₹500 levels. Those looking for quality stock available at discounted price should wait for few more trade session till the picture becomes clear and volatility in the stock gets stabilized."
Echoing with Sumeet Bagadia's views; Anuj Gupta, Vice President at IIFL Securities said, "This stocks has been under selloff heat after hitting its all-time high in May 2021. Now, it is in falling trend and may continue to fall further up to ₹380 apiece levels, once it breaks its current 52-week low."
On where to buy this counter Sumeet Bagadia of Choice Broking said, "If the stock doesn't breach its ₹430 levels and rebounds from current levels. Then it will face strong hurdle at ₹480 to ₹500 levels. If the stock manages to break this hurdle then only one should think of buying above ₹500 levels." He said that fresh buying is advised only after the breakout at ₹500 levels on closing basis.
Vaibhav Global shareholding pattern for Q3 FY2021-22
According to shareholding pattern of Vaibhav Global for October to December 2021 quarter, Both Vijay Kedia and Ashish Kacholia have investments in this multi-national company. Vijay Kedia holds 30.35 lakh company shares or 1.85 per cent stake whereas Ashish Kacholia holds 20 lakh company shares or 1.22 per cent stake in the company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
