SBICARD is exhibiting reversal at multiple supports:
1. Trendline support from previous lows
2. 1.618 Fibonacci support
3. 200DMA support
Further, RSI also touched 30 level and reversed.
We are bullish on this stock, expecting the price to reverse to ATH of 1139.
Based on the weekly chart, KSCL has broken out of a long descending triangle/pennant. A measured move of the flagpole gives a target of 900. Fib 1.618 extension also shows tentative 900-910 on cards.
Happy Guys & I don't know what to give as title, so gave a song title :)
Getting Back to analysis, we drew ABCD yesterday, there can be more reasons coming up today for upside move. For example, Am expecting Double Bottom on 15mins time frame but will see whether it happens. I hope Nifty, after taking support around 9130's zone we may get move up till 9170's...
