I took this trade seeing that the market is in uptrend and wanted to wait for a OB near swing low by placing a limit order(As market would want to clear buyers first before going up again). This was standard limit order and i refined the OB till 30 min many people were in sells seeing a CHOCH in a lower TF. This is a swing trade but it can turn into a day trade...
NSE:SBICARD has approached the 200SMA on Daily chart and is not too far away from 50SMA on Weekly. As highlighted in the chart, we can see a confluence of support zone and FIB level.
A confirmation candle might be needed, but it looks like an interesting long setup, especially if 900 is retested and held. Target can be around ATH which is ~15-20% away.
Price...