NSE:SBICARD
Hi Traders,
SBICARD remained range-bound throughout month. Now, it is trying to break both resistance and trendline.
Entry and target level on chart.
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STOCK IS AT ALL TIME HIGH, IF MANAGES TO CLOSE ABOVE 860 ON MONDAY ON 15 MIN THEN IT CAN FLY HIGH LIKE A ROCKET, TARGETS WILL BE 872 AND 887 RESPECTIVELY IN SHORT TERM(2-3 DAYS) BUT CHANCES ARE LOW, IF IT FAILS TO BREAK IT CAN AGAIN TEST 830 LEVELS SOONER
FOR ATH STOCKS I USED FIBS EXTENSION FOR PLOTTING TARGETS, BEST TOOL OUT THERE
SBI Card ( NSE:SBICARD ) is continuously Consolidating in SR Zone. This can become a very good trade for intraday traders.
Chart Published By Ravinder Sharma
Clearly on all TFs SBI card stock is on bullish mode. Stock is making the higher highs & trading the level with 20 EMA. A small pull back has been seen on the charts. Stock is in triangle pattern & after the BO we can see very good movement in the stock. Long entry can be taken above the level of 814 for the next target price of 835. if stock able to cross the...
Buy SBI Card @836
Targets 843.50 852 865+
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SBI Cards and Payment Services Ltd has retraced to support levels of 730. It can be bought above 749.5 for targets of 790 & 820+ levels.
Maintain Sl below 720. Aggressive traders can consider buying at current levels of 733.
Stock responded positively to the support of 20-day moving average. Around ₹756, the moving average coincide with the rising trend line increasing the strength of the support. Moreover, the trend is bullish. Hence, one can go long at current price levels and going ahead, the stock can be expected to register fresh all-time highs.
SBICARD has been trading near the support level of the channel. A breakout with good amount of volume, can be considered as a Potential up move till the resistance level of the channel.
Cheers!
Happy Trading.
Note: This is for educational purpose only.
There seems to be a bullish breakout with rise in volume. RSI is at 70+ which indicates strong bullish momentum but overbought too. There will be some consolidation before start of the next bullish rally.
