SBICARD trade ideas
[Short Term] Disjoint Channel Breakout in SBICARD for Target 875Trade:
Buy SBICARD 852-855
SL 847
Target 865 875+
Journey of SBI Cards, "(Breakout + Consolidation) Format"(Breakout+ Consolidation) became a general trend for NSE:SBICARD . In recent terms, the stock has consolidated a lot and has formed a parallel channel taking support at (800) and resistance at (870) . So breakout is possible
Support- 800
Resistance - 870
This analysis is done only for educational & intelligence purposes, invest or trade at your own risk & will.
SBI Cards | BUY on Close above 860SBI Cards and Payment Services Limited (SBICPSL), incorporated in 1998 and a 69.51%-subsidiary of SBI, is a non-deposit taking systemically important non-banking finance company registered with the Reserve Bank of India. It is the second largest credit card provider in the country, with a card base of about 10.5 million as of March 31, 2020. Apart from the corporate office in Gurgaon and the registered office in New Delhi, SBICPSL has 19 branches with 140+ sourcing locations, 39,000+ sales agents, 4 call centres and over 6,000 collection agents across 140+ cities in India. The company has generated EPS of Rs 4.19 during Q1FY21 as against full year EPS of Rs 13.26 which is ~31% of full year EPS.
The stock is consolidating near its ATH and any breakout above 860 on closing basis will result in new ATH. Q2FY21 results holds the key.
Learn RSI Part 1 : Basic of Relative Strength IndexHello Traders,
I am back with the new educational concept. You may have often heard the word "RSI"
We are going to study about RSI : "Relative Strength Index", which is the most used indicator.
RSI is the price following indicator and it provides important levels from 0 to 100.
The important levels of RSI are 40-60, 70-30 and 50
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Why do we practice RSI?
There are a few reasons for using the most important indicator.
1.) It provides over bought & oversold levels.
If RSI goes above level 70, we can say it has "overbought" and if RSI goes bellow level 30 we can say it has "oversold"
Q.1 What is oversold & overbought?
A: These two terms are extreme level when the price reaches this level, reversal is possible
So shall we travel further? YES! Cool!
2) RSI gives us the direction of where the trend is going!
I have added level 50 as an important level.
So, if the price is below level 50, we can say that atmosphere is bearish and if price is above level 50 we can say that atmosphere is bullish.
In short, Bearish below level 50
Bullish below level 50
It is better to draw a horizontal line at level 50, to have a check on it easily!
We will continue the series it will cover the divergence and many more indicators.
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If you have any doubts, you can put them in the comment section below.
SBICARDSIm not an expert im just sharing my views on SBICARDS for tomorrow
Im not responsible for any profit or loss this is not a recommendation
SBICARDFORMING A CUP AND HANDLE LET US SEE IF IT CAN BREAK ITS ATH(868) ABOVE THS IT CAN A GIVE A MOVE
SBI CARD Wave 1 Complete. Time for Wave 2 Decline!Chart Data as of 25th Sept, 2020
A Classic Ending Diagonal/ Rising Wedge structure has marked the Completion of a 5 Wave Impulse
Elliot Wave suggests we are now in a Wave 2 Decline that can retrace this Wave 1 advance that just got completed
I have a Minimum Target of ~ 725 for this Decline.
Key Levels to Note:
T1= 725
700 psychological level
T2= 685
T3= 640
Where this Wave 2 Decline will Stop, I do not know but there is a High Probability that we will at Least meet Target 1 for this Downfall.
My Bearish View Negates if we make a New High above 868
Studies apart from EW such as:
Price Volume Action
RSI
MACD
ADX
......Are ALSO Confirming my Bearish Thesis, SO if you do not want Short at least I Will not be a Buyer till SBI CARD makes a new High.
Provide me Feedback and Support if you liked this Bearish Setup
Happy Trading :)
SBI Cards --- SWING PICKWatch for the breakout. Currently its swing between these levels. Can expect a bullish movement on the break out.
SBI CARDS - Please validate Head and Shoulder patternGreetings ! Please validate Head and Shoulder pattern.
SBICARD, ANOTHER STEP BREAKOUT (CHART# 314)SBICARD has moved in steps since May. This was posted sometime back as well.
Above 866, it can see another breakout.
Thanks
Piyush Gupta
SBICARDSIm not an expert im just sharing my views on SBICARDS for tomorrow
Im not responsible for any profit or loss this is not a recommendation
Sbicard :Closing 849.40:TradingDesk #GHC3BarDecider Sbicard :Closing 849.40:TradingDesk #GHC3BarDecider
SBICARD : At Breakout LevelNSE: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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###Learn To Earn###
* This analysis is educational/learning purpose only.
* Trade at your own risk.
Trade well,
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