In SBI CARDS, 650-700 is a huge demand zone in weekly timeframe. This is the level of value buying for big institutions. SBI CARDS will change it's weekly structure above 800 which can be considered as a safe entry point for conservative investors. For aggressive buying, we need to look for structure change in a shorter timeframe, may be hourly.
Targets for mid to long term have been calculated according to the swing highs in weekly timeframe.
This whole idea will become invalid if price closes below 655 which is the major support area in weekly timeframe.
So, please keep SBI CARDS in your watchlist for long term investment.
If you like my view, do support it with a boost which is a valuable inspiration for me to post ideas like this in future. Thank you friends!
Targets for mid to long term have been calculated according to the swing highs in weekly timeframe.
This whole idea will become invalid if price closes below 655 which is the major support area in weekly timeframe.
So, please keep SBI CARDS in your watchlist for long term investment.
If you like my view, do support it with a boost which is a valuable inspiration for me to post ideas like this in future. Thank you friends!
Comment:
Weekly trendline breakout with retracement and good volume. Support and resistance always works in the market, one need to trust it! Entry can be made at CMP, or you can wait for structure change confirmation above 800.