PrabhatMishra

Price Action , Trend line and Dynamic support.

NSE:SBICARD   SBI CARDS & PAYMEN
After the IPO of SBI CARDS, there was a downfall, then for few sessions, it started surging. after the first breakout which was supported by the crossovers of EMAs in (phase 1), 21 EMA acted as a support, at every minor uptrend there were crossovers that were conforming to the price actions. and then the consolidation phase started (the price started moving in a range) there was a false breakout but the price was not able to sustain there, for much longer.
before the breakout (04/ 01 /2021) there was a Hammer formation, EMA crossovers and volume started increasing gradually, then it was a start of an uptrend and 21 EMA was again acting as major dynamic support.

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