Levels for - 06 Sep 2021EXPLANATION : This is a 15 Min time frame chart of SBICARD . The stock has been consolidating exact Demand zone , We buy at bottom and sell at the top , It has formed a Resistance become Support .
SBICARD trade ideas
SBI Cards PaymentTesting Resistance Line multiple times. Double rounding bottom pattern formation. Might give huge move if sustains above resistance levels
SBI Cards and Payment Services LtdSBI Cards and Payment Services Ltd at resistance level of 1140 for the third time. If this level broken it will fly..
SBICARD Last Minute Buying, Something big is on the way. There is a huge last minute buying happened in SBICARD, Some big moves are on the way. Hope you have already added it.
My position is 981
SBICARD | Gap filling opportunity - Potentially 12%SBICARD | Gap filling opportunity - Potentially 12%
CMP : 1016
SL : 985
Target : 1130
1:2+ risk reward setup
SBI Card Ready for BO 1.Waiting for BO
2.Volume needs to be confromed
3.Weak below 990
4.First target 1300
The reason behind Fibonacci retracement in stock marketsWhat is the reason behind Fibonacci retracement in stock markets?
As a traders we all know Fibonacci that the Fibonacci ratios, i.e. 61.8%, 38.2%, and 23.6%, finds its application in stock charts. Fibonacci analysis can be applied when there is a noticeable up-move or down-move in prices. Whenever the stock moves either upwards or downwards sharply, it usually tends to retrace back before its next move.
The reasons that I come across why this uncertain market follows the Fibonacci retracement . The stock market only involves demand and supply, but how this golden ratio-number can govern the price movements, like most of us don’t have the mathematical knowledge. But psychology we all think in a similar way .
The two reasons that I come around are:
-Stocks do NOT "follow Fibonacci retracement." Stocks move around randomly, together with some bias due to overall unpredictable market conditions. Sometimes these random movements correspond to a recognizable pattern on accident, and when they do people notice and say "look at that, a pattern!" Then they give these patterns fancy names like "Fibonacci retracement," and start looking for them in other places, which they will certainly find if they look hard enough. Sadly, any attempt to use these patterns in advance to predict future price movements fail. Sometimes they match on accident, and just as often they don't.
If these patterns worked, then they would quickly be used until they stop working. E.g. If the pattern actually, correctly, showed that the stock price will go up next week, then a whole bunch of people will start buying it THIS week, causing it to go up sooner, and ultimately erasing the pattern.
-There are two schools of thought - one that believes in technical analysis, and one that doesn’t.
from the view of the latter
With many people believing in the significance of the stock price reaching or crossing certain levels - be it fibonacci levels, support lines, crosses of death, or whichever, those people react by buying or selling, thereby creating a self-fullfilling prophecy. If you want to make money in the market, you need to be aware of these reactions, and act accordingly - sometimes even supporting the supposed beliefs.
Personally, I think it’s like astrology - great if it helps you, but there is nothing behind it.
Again, look forward to the other side explaining you why it’s real, and make up your own mind.
Thanks for reading it. Please share your thoughts on things..
SBI CARDSBI card looks really bullish with triangle breakout. one can buy for a short term target of 1140 in a month max
SBI Cards : Triangle Pattern and Double BottomSBI card looks really bullish with double bottom and triangle breakout. one can buy for a short term target of 1140 in a month max.
sbi card payment heavy rejection at 1000 levelsbi card tripple bottom and heavy rejection at 1000 price level.pin bar
SBI Cards and Payment Services Ltd - Price tells everything.If we look at the price action of the NSE:SBICARD in the past period, we may be able to see the W pattern, so called double bottom pattern and after that NSE:SBICARD went into consolidation mode for about 1 month while getting trapped into a flat bottom triangular pattern. At the current moment, it looks like it has achieved a successful breakout and may soar price higher.
One may initiate a long position with a stop loss below 995.
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SBI Cards - Parallel Channel BSE:SBICARD
SBI cards might give parallel channel breakout. Buy above 1100 for target of 1200
SBI Cards : Triangle PatternSBI Cards looks good on chart. recently it has broke the resistance, can buy for a target of ₹ 1140 within a month.
SBI CARDS 1hr analysisSBI CARDS is at a perfect support level
It has filled the GAP and faced the resistance
there's a high probability that it will bounce back
from the level, 1045 should be the first target
we can expect higher levels in the coming days
SHORT TERM POSITIONALwe can long sbicard for positional 10/15 day s target we can see on the chart 100+ points our target with risk of 20 points
SWING SETUP IN SBI CARDSSbi Card if sustained above 1040 Level then target will be 1110++ 1138++
The Perfect swing setup
bullish its making narrow, and also near support may be seen upper level as we have draw on the chart, once it has to cross the narrow range for entry
SBICARD - Entry PointsSBICARD is consolidation therefore highlighting strong and important entry points.
SBI Card - IntradaySBI card above 1055. Resistance and TL BO will be confirmed. Keep under radar for this week.
BULLISH ON SBICARDSSELLERS ARE TRAPPED BULLISH SPIKES CORRECTION DONE NOW EXPECTING A NEW HIGH HERE.
