SBICARD trade ideas
Symmetric Triangle, Swing , SBI CARDSIf the resistance is broken we can see an up movement and there by creating new higher high for the stock in uptrend. Since this is an symmetric triangle there can be a chance for break down also, so trades should be taken only after closing above resistance with volume.
Being a fundamentally good stock it can give good return but holding period might be longer.
Nb: Not a stock recommendation, sharing my view only
Breakout ExpectedSBI Cards, a 9 momth old stock in market, made a new high in August (18 Aug) and then given close below 800 on only 7 days till today. So 798-800 has become very much strong support.
The stock is seemed in a channel, now attempting to break it. As n When daily close is above 855-860, stock may give good upside. First target 920, eventually leading to 1000-1020.
NSE:SBICARDDISCLAIMER : . I am not a SEBI Registered analyst.
All chart analysis I publish are educational and information purposes only
SBI Cards to breakout in coming daysOnce the price 865 is crossed, the stock can go up to 900 & above.
Note : I am not taking any trade from the this idea & its only for the learning purpose.
SBI cards looking upside above 855-865 levelsHold for targets of 900. SBI cards forming an upside pattern.
follow strict stop loss of 820. trend line support is 820. it's a free fall below 820.
SBI CARD Buying Opportunity
800 is last swing low so it can be considered as a strong support
The next support is 784 where It has already bounced back 5 times earlier
864 is a strong resistance for it, so one can look for profit booking here
SBI Cards - Loosing StrenghtSBI cards loosing momentum and formed a rectangular box pattern. Breaching 790-770 can take the stock to 721,686+
SBICARDexcellent harmonic setup
buy zone activated,
though horizontal resistance of 864 to be clear,
soon after breakingout 864, gates open till 920.
safe tgt 908
sbi card big opportunitysbi card goes in downtrend because its create lower lows and lower highs for more conformation check it chart ..
SBI CARD Wave 1 Complete. Time for Wave 2 Decline. UPDATE!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 Wave theory.
SBI Cards showing Clear Signs of Distribution post the Earnings Gap Down. Head & Shoulders Top forming , also more Bearish Volume than Bullish Volume and more Wide Range Red Candles as compared to Green Candles. What else is Needed?
- Price is heading to find Support at 725 MINIMUM as a Bearish Target 1!
- It can Even go more Down as I've mentioned the Levels.
If you have Longs I suggest Exit. Since its not in FnO you can't Short so I'd suggest play this Bearish View Intraday in Cash MIS Selling
SBI Card Part IIContinuation of last post.
Stock may reverse from the blue line as well, it's current 2% std. deviation level.
SBi CardSBI 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..
Andrew Pitchfork.SBICARD has been following Andrew Pitchfork for a long time now. This rally has just begun. Positional target of 900++.
