Today sharing with you SBICARDS daily basis charts, a small rounding bottom pattern can been seen around 822 to 865 levels, pattern shows a bullish view from current levels.
1. This is only for educational purposes only.
2. Never over trade.
3. Always keep Stop Loss.
4. Trade in limited quantity.
NSE:SBICARD is performing better and better when we checkout the results. The script is fundamentally sound and the card business is on track. Investors can add positions at current levels i.e Rs. 715. A strong upmove or rebound expected in near term.
Short Term: 775
Long Term: 900
QoQ Results were good
Script Available at lows
New Study For Paper Trade
Buy SBI Card Near 770-780 (add more at 755-765)
Target : 840-900-970
Currently Sbi card is consolidated in one range and also box Pattern applied when box Pattern Break then perfect entry caught.
You can Also buy futures and call option after trend reversal confirmation.
👉 Weekly Demand Zone
Only For Paper...
Sbi cards looks good on weekly charts given breakout on strong horizontal resistance trendline and gives a strong close above Bollinger upper band both breakout indicating good up move coming this stock
CAUSE OF LONG-:
1- Breakout on horizontal resistance trendline
2- Breakout on upper Bollinger band
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ,...
Watch SBICARDS on a weekly timeframe.
It has taken support from the ascending trend line couple of times.
Currently it is about to test the trend line in few days. If we can see some reversal candlestick on a daily timeframe, it looks good to add for long term with a stop loss below 700.
Please note I’m not a sebi registered analyst.
Please analyse your self...
Closing price and closeing RSI on daily charts are showing bearish divergence, as you can see in the published chart. That gives SBI Cards a probability of correction in price before further upward movement.