Piyush-Gupta

SBICARD, STOCK BEHAVIOR STUDY (CHART# 296)

NSE:SBICARD   SBI CARDS & PAYMEN
This chart is for demonstrating how each stock have its own characteristic and study of past behavior of stock can greatly help us its momentum in future.
SBICARD has followed a series of flag patterns and breakout which witnessed volume spike and then consolidation. Over repeated pattern formation, SBICARD is slowly fading out as height of its move is gradually decreasing.
Using price action analysis, one should always look at its past behavior to shortlist high probable setups. There are stocks which follow fibonnaci 61.8% retracement repeatedly and using this past behavior information is very useful in placing high RISK to REWARD trades.

Price action trading is a process of using price to analyze stock possible movement. Keep your charts as simple as possible so that you keep focus on most important element on chart "PRICE".
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Reach out if you wish to learn simplest form of price action and willing to put effort in practice.

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Piyush Gupta

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