Breakdown for short termYou can buy near 900 level if you have shorted cover it before 900 level good level to buy this stock near 900/880
SBICARD trade ideas
SBI Card is approaching the zone—upside potential of 15%+?NSE:SBICARD has approached the 200SMA on Daily chart and is not too far away from 50SMA on Weekly. As highlighted in the chart, we can see a confluence of support zone and FIB level.
A confirmation candle might be needed, but it looks like an interesting long setup, especially if 900 is retested and held. Target can be around ATH which is ~15-20% away.
Price action in this stock tends to be a little choppy, so best to be alert.
SBI CARDS - Weekly Close In daily chart att critical support of 945
Onl Weekly basis should close above 995
SBI Cards - Cup and Handle Breakout ViewSBI Cards : Positional
Looks Ready for Cup and Handle breakout
Long above 1105
Support at 1060 and 1035
SBI CARDS BUYING OPPORTUNITYSBI Cards gives a breakdown of its trend support
Note: Don't go for short, it may bounce because It is not a perfect breakdown so, look for buying opportunity, but if you still wanna go short only after confirmation candle
Also, Keep It Mind that
If stock market experts are experts, they would buy stock not selling advice. so trust no one make your own analysis
Accumulate this multibagger with every dip3 accumulation zone if you get!!
1. 995-1000
2. 899-903
3. 768-770
Swing Opportunity in Sbi CardsGo Long above 1115.1 for Targets of 1214.95, 1314.8, and 1414.65 with SL 1015.25
Reason to go Long :
1. The stock formed a bullish chart pattern, Cup & Handle and today gave breakout with high volume.
2. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
Cup and Handle in SBICARDNotes:
Cup and Handle formation started on 2nd March.
The latest candle (formed on 9/6/2021) showed a strong breakout from a channel consolidation in the handle part. It also broke and closed above the top end of the cup.
Could expect a retest/consolidation of the top of the cup before resuming any upward move (since the breakout was not supported by a strong volume). Hence, Possible accumulation zone near the present levels.
Topside target in such a pattern is taken as the depth of the cup. In this case, around 240 points or 20%.
Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
SBI CARDshort term trade. stock can be bought in the current trading zone with stop at 1000 and target of 1230 and 1290.
Cup formationCup formation in SBI Cards.
Resistance levels are on the chart.
Better to take entry when the top resistance levels are broken and a retest is done.
SBI Card journey over last 6 monthsSBICard near its resistance level. Pullback every time it has tried to BO and breach resistance. Strong support zone also seen from which uptrends are clearly visible. Big contender to buy out Citi's retail card business in India. Potential to move BO resistance and give 10-15% upside with minor pullbacks in 2-3 months.
Disclaimer: For education purpose only.
SBICARDNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
cup & Handle formation in SBICARDScup & Handle formation in SBICARDS. buy above 1110 . Education purpose only.
