SBI Card Trend Diminishing Triangle Pattern in SBI Card, Watch for break-out after this consolidation phase.
CARD
In-depth for SBI CARD.Short TERM Trading Idea
SBI CARD, India's largest lender of credit card listed thier IPO in March, which turned out to be a nightmare for investor's. SBI even started rolling loans for SBI customers so that they can get the IPO at a loan which profits both consumer at LONGER term and gain bank the interest. There was a reason behind the fall of SBI card. Few of them which i feel is
1. Due to Corona Pandemic
2. Due to Moratorium on Loans, investors thought bruised everyone that what will bank do if credit card owners dont pay thier bills?
3. Some purposely took out to get the easy loan cashed by IPO for thier personal use
4. Some got out for frustration.
Now why SBI CARD looks delicious for me, here it is why
1. SBIC will not go up unless big players put up thier money here. So BIG PLAYERS ACCUMULATION = PROFIT FOR RETAILER's
2. SBIC will perform tremendously once accumulation is done.
The chart is in front of you, follow the charts. If you are a new buyer, please accumulate at levels of 500. If you have 1Lakh Capital, keep 10% of that at every levels
Like 10% on 500
5% on 450
10% on 400 and so on. Target levels 1120
