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SBFC (W) - Coils in Triangle Pattern, Awaiting a Decisive BreakAfter a post-IPO sideways trend, SBFC has been consolidating within a Triangle Pattern since April 2025. The stock is currently in a state of building tension, with bullish underlying indicators running into a strong, proven resistance. The Bullish Undertone The technical indicators on higher timeframes are showing constructive strength, suggesting a bullish bias: - Strong Momentum: The short-term Exponential Moving Averages (EMAs) are in a bullish Positive Crossover (PCO) state on both the Monthly and Weekly charts. - Rising Strength: The Relative Strength Index (RSI) is also rising on both the Monthly and Weekly timeframes. - Volume: Trading volume has remained at an average level, indicating an absence of significant selling pressure during this consolidation. The Key Resistance Despite these bullish indicators, the stock remains trapped below the upper resistance trendline of the triangle. The strength of this resistance was confirmed last week , when the stock attempted to break out but failed to close above the trendline , resulting in a "fakeout." This week's action, a modest surge of +2.35% on 16.77 million in volume, is another attempt to push against this same barrier, but it has not yet succeeded. Outlook and Key Levels The stock is at a clear inflection point. A decisive move is required, as the price is being squeezed between rising momentum and a hard ceiling. - Bullish Scenario: A breakout will only be confirmed with a decisive close above the upper resistance trendline on high volume . If the stock can achieve this and sustain the momentum, the next potential target is the ₹115 level. - Bearish Scenario: If the stock is rejected from this resistance again and fails to sustain its upward momentum, it will likely fall back with a potential downside to the ₹110 level. The price action in the coming trading sessions is critical. All eyes should be on the upper trendline of the triangle for either a confirmed breakout or another rejection.
NSE:SBFC
by Learn_with_Pth0mas