Analysis:
RSI levels at ATH but the stock is still well below the expected price when launched
Volume Osc indicate an institution buying continuously
The stock will be on top nifty50 list in 2 years
Investment Strategy:
Stock will be one of the highest performers in the next 2 years - buy at the small dips
Strong fundamentals means it will keep rising, sell small...
Looks good for another 8-10 % upmove. 938-942 is the support zone . Holding 909 on daily closing basis is crucial.
Disc : it's not an investment advise to buy or sell
SBI Cards - Daily
Do not jump in looking at the break out, wait for the confirmation, buy on dips
history repeats itself - clearly seen on charts - Exact same pattern on charts.
My View:
The script will go down once and will take support at the lower trend line and whenever it will cross the upper level it will take support one time and later IT WILL ROCKET.
Buy Level: 867 (After support)
Target: 950
SL: 840
SBI Card making descending Traingle, I am seeing around 8-10% downfall in near term. But the confirmation on breaking the support is needed to take any trade, the support is strong..
If you check my Last Post on SBI Cards, I was Kind of Too Early to Call the Tops as the Wave count got Extended.
But even keeping aside Elliot Wave since its forecasting in nature and not that Accurate since Counts keep changing and there are always Alternate Count views.
So even going by Traditional Price Volume Action which is a LOT MORE Reliable than Elliot...
