Rajesh_S

SBI CARDS - NEUTRAL

NSE:SBICARD   SBI CARDS & PAYMEN
Currently price is at a very crucial level which is - Previous swing's high which is also a good support level and Fibo Retacement level of 0.236.

2 possibilities from here:

1) Most probable - The support holds and upper target will be 763.00 to 765.00 levels. Can enter after the trendline breakout with good volumes. Also still trading above 50 and 100 EMAs.
2) If strong selling happens then downside first target can be near 708.00 to 700.00 levels and can continue till previous support at 685.00 levels.
Trade closed: target reached
Comment: Target reached for long after breakout

Comments

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