Price Action , Trend line and Dynamic support.

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.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.