After a prolonged decline, SBICARD is approaching a key demand zone that has historically attracted buyers. The stock is trading near multi-year support while the weekly RSI sits in oversold territory, creating conditions for a potential relief rally.
Key Levels
🔹 Support: ~590
🔹 Major Support: ~500
Upside Targets
🎯653 → 700 → 796
What Makes This Interesting?
• Price is near a strong historical demand area.
• Weekly RSI is deeply oversold.
• Risk-reward improves significantly near support.
• Any bullish reversal with volume could trigger a recovery move.
Risk
A sustained weekly close below ₹590 would weaken the bullish setup and increase the probability of a move toward ₹500.
Outlook
The trend remains weak, so confirmation is still needed. However, if buyers defend the current zone, SBICARD could offer an attractive mean-reversion opportunity with ₹653, ₹700, and ₹796 as the next key levels to watch.
Not financial advice. Manage risk accordingly.
Key Levels
🔹 Support: ~590
🔹 Major Support: ~500
Upside Targets
🎯653 → 700 → 796
What Makes This Interesting?
• Price is near a strong historical demand area.
• Weekly RSI is deeply oversold.
• Risk-reward improves significantly near support.
• Any bullish reversal with volume could trigger a recovery move.
Risk
A sustained weekly close below ₹590 would weaken the bullish setup and increase the probability of a move toward ₹500.
Outlook
The trend remains weak, so confirmation is still needed. However, if buyers defend the current zone, SBICARD could offer an attractive mean-reversion opportunity with ₹653, ₹700, and ₹796 as the next key levels to watch.
Not financial advice. Manage risk accordingly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.