SBICARD is currently displaying a double bottom pattern on the daily chart — a bullish reversal setup that typically forms after a downtrend. This pattern signals that the stock is attempting to establish a strong base and could be preparing for an upward move.
⚖️ Key Levels to Watch
Support Zone: As long as SBICARD holds above ₹780, the structure remains strong and the pattern is valid. A breakdown below this level could weaken the setup.
Breakout Confirmation: A closing above ₹830 will serve as bullish confirmation of the double bottom breakout.
Upside Targets: Once confirmed, the stock has potential to rally toward ₹860–880 levels in the short term.
✅ Summary
In short, SBICARD is in a consolidation phase, attempting to break out from a double bottom. Holding above ₹780 keeps the bullish bias intact, while a breakout above ₹830 can trigger the next leg higher.
⚖️ Key Levels to Watch
Support Zone: As long as SBICARD holds above ₹780, the structure remains strong and the pattern is valid. A breakdown below this level could weaken the setup.
Breakout Confirmation: A closing above ₹830 will serve as bullish confirmation of the double bottom breakout.
Upside Targets: Once confirmed, the stock has potential to rally toward ₹860–880 levels in the short term.
✅ Summary
In short, SBICARD is in a consolidation phase, attempting to break out from a double bottom. Holding above ₹780 keeps the bullish bias intact, while a breakout above ₹830 can trigger the next leg higher.
Trade active
SBICARD gave a breakout above 830 today and quickly touched 850. The momentum looks strong, and in the short term, immediate targets can be seen at 860 and 880 levels.Trade closed: target reached
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Disclaimer
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.