SBI CARD - Support levels will save bulls & Time for Reversal ?

Feb 7

SYMBOL - SBICARD

SBI Card & Payment Services has been in downtrend since a long time.

It is now trading at major supports levels once again.

A long position can be made at current levels for trading/investment purpose around 700-710 as risk : reward is very good at CMP.

SL can be 680.

Targets for trading purpose can be - 745 & 765.

For Investment, Targets can be - 770 - 840 & 920.

For investment purpose, I will not be surprised if it gets 2x or more from here in next 2 years.

Disclaimer - I have made long position in futures & I'm sharing my position & my analysis. This is not a buy/sell recommendation.

Feb 8

Trade active

CMP 727

Feb 9

Trade active

CMP 718

went till 730 & retraced a little.

My long position is open.

Feb 13

Trade active

CMP 722

Getting ready to take off.

Feb 16

Trade active

CMP 712.

Adding more long position (trading) here. I'm expecting it to blast soon.

Feb 19

Trade closed: target reached

CMP 743

Closing my trading position here. more than 5% move captured.

Investment position still open.

Mar 5

Trade active

CMP 712

Taking long position in march futures again. will add more if 705 comes.

Holding with stoploss 698.

Mar 6

Trade active

added more quantity at 701 today.

Average buying price now is 707.
Holding with new 690 SL.

Mar 7

Trade active

CMP 708

Holding support level of 700.

expecting a good bounce till 725 & 740 soon.

Mar 10

Trade active

I think this is last call for long term investors in SBICARD (as long as it is holding 680 area).

It is ready for takeoff & may easily get 2x-3x from here in long term ( ~2 to 3 years).

My investment & trading position both active as of now.

Mar 11

Trade active

SBICARD 720 CE
CMP 10.50
Adding huge position here.
Expecting it to get 2x (or even 3x) from here. It's looking very good & worth taking risk.


SBICARD CMP 701.80
expecting a sharp reversal from these levels as 700 is strong support level.

Mar 12

Trade active

SBICARD 720 CE
CMP 8-8.10
Adding more quantity here. (same quantity as that of previous)
Average Buying price now is 9.30.
Expecting minimum 2x very soon.

Will exit future long position and this CE position if SBICARD goes below 690.

Mar 13

Trade active

CMP 694.

Long position in 720 CE and march futures is still active. It's not moving as per my expectations. I'm expecting sharp bounce till 725-735.
Holding with 690 strict SL.

Will exit everything if it goes below 690.

Mar 13

Trade active

Huge selling in smallcap & midcap space.
made a wick below 690 and recovered.
will see and close my long position if closing below 690 today.

720 CE now trading at 7.25 (loss of 2 rupees) & future is in 15 rupees(2%) loss.

Mar 13

Trade closed: stop reached

SL reached, trading position closed.

Mar 14

Trade closed manually

CMP 702.25

There was huge selling in markets yesterday, because of that SBICARD was closing below 690 & I had to take SL as discipline is very important in trading. You can win for 300 days but still lose everything in a single trade. That's what I believe.

Hence I closed my position yesterday but now It's recovering. I still believe It must test 725-740 area very soon as trading perspective but now I'm not taking long positions in this again. I will be tracking only. :)

Mar 18

Trade active

CMP 697.20

It hit SL in my last trade because of panic selling in broader market. Now it is showing signs of reversal again. It has made Bullish Engulfing 2 days ago.

Taking long positions in future again & same 720 CE which is now trading at 4.75

will exit again if goes below 690.

Mar 18

Trade active

CMP 694

adding more position here as RR is very favorable here. It's going to either take SL today or give a strong reversal.
Let's see what happens.

Future average price now is 695.55 & 720 CE average buying now is 4.30
Strict SL 689 in place.

Mar 19

Trade active

CMP 703

Sustaining above 700-705 will take it to 725-730 very soon.

Mar 20

Trade active

CMP 690-690.50

continuously trading at my SL level 690-690.50 since last hour
will wait for half an hour more.. if going and sustaining below 690, I will exit.

Markets are at support levels so I believe markets must recover from these levels.

Mar 22

Trade active

CMP 708.20

Trading at do or die level.
Breakout of 710-712 will take it to higher levels.
Holding with 705 trailing SL

Mar 26

Trade closed manually

CMP 705
Trading completely sideways & isn't moving as per expectation. So, Closing trading position here. Previous SL is covered.

Closing only trading position. Investment position is still open.

Apr 10

Trade closed: target reached

CMP 755
Trading targets reached.

Investment position still open.

Apr 21

Trade active

CMP 732

I think this is last call for medium to long term investors. It has made a strong base at 690 - 710 accumulation zone. Now it will enter into advancing phase.

P.S. : My investment position is active from 700 level.

May 30

Trade active

Once again it is entering the accumulation zone.
Adding more position here with SL 650.
Last quarter results were good. My conviction in SBICARD as investment is increased now.