sankatradesindia

SBICARD is forming a bearish engulfing on weekly charts

NSE:SBICARD   SBI CARDS & PAYMEN
There is a bearing engulfing candle on SBICARDS.
The volumes are pretty good too.

There are two possible outcomes here:
1. Reversal from the support, as seen before (marked)
2. Further breakdown.


Ideas for trade: Wait for next trading session for a confirmation candle. Then take a trade.

No doubt, if there is a reversal from the support, then this could be a great trade on the long side.