SBICARD trade ideas
Short to Medium Term Investment SBI Cards and Payment ServicesSBI Cards was in downtrend since IPO listing and now again the movement is strong and stock is in uptrend and expected the movement towards 954 levels.
Please note the chart updated here is for Educational Purpose only
SBI Cards | BUYStock responded positively to the support of 20-day moving average. Around ₹756, the moving average coincide with the rising trend line increasing the strength of the support. Moreover, the trend is bullish. Hence, one can go long at current price levels and going ahead, the stock can be expected to register fresh all-time highs.
SBICARD will move in channel or give a breakout or breakdown????If SBICARD will move in channel BUY from Support & SELL from Resistance , either it gives a breakout so, increase your Buying Quantity, OR if it give a breakdown so, Sell all your Quantity and BOOK YOUR PROFITS.....
chance of retracement hold for 3 days to next move!noted points:
1) chart shows , stock is moving in a regular pattern, but got the strong resistance near 760 and hit reversal.
2) now it is near 1st likely support 730 points.
3) there is a chance of moving in the side waves for the next couple of weeks.
4) hold for next 2 to 3 days if it crosses 760 resistance , chance of increase in the points till 850 to 900.
5) if it breaks down the 730 points then it comes near the second likely support zone of 684 points.
Disclaimer note:
This report is for study purpose. Use this for the same.
SBICARDNSE:SBICARD
(FOR EDUCATIONAL PURPOSE ONLY)
IF PRICE CROSS AND CLOSE ABOVE 755 (BREAKOUT WITH SIGNIFICANT VOLUME),IT WILL MOVE UP TO 795
IF PRICE CROSS AND CLOSE BELOW 722 (BREAKOUT WITH SIGNIFICANT VOLUME),IT WILL MOVE DOWN TILL 678
sbicard1) FIB retracement(23.6%)
2) continue moving raising channel
3) future all persons credit card usage. good invesment
Watch Out SBICARDSBICARD has been trading near the support level of the channel. A breakout with good amount of volume, can be considered as a Potential up move till the resistance level of the channel.
Cheers!
Happy Trading.
SBI card bullish for 10 Aug tradeCup and handle pattern, Overall trend on upward side
Will be bullish for intraday trade on monday
SBI Card channel SBI card is moving in definite channel with stock respecting both resistance and support line. Will request other experienced members to further guide and correct if any mistakes.
SBI CARDS - NEUTRALCurrently price is at a very crucial level which is - Previous swing's high which is also a good support level and Fibo Retacement level of 0.236.
2 possibilities from here:
1) Most probable - The support holds and upper target will be 763.00 to 765.00 levels. Can enter after the trendline breakout with good volumes. Also still trading above 50 and 100 EMAs.
2) If strong selling happens then downside first target can be near 708.00 to 700.00 levels and can continue till previous support at 685.00 levels.
SBICARD bounce back from entry level given earlier.Refer my earlier trade idea for buying in the range of 712~722,those who have purchased it can wait until target come or can book partial profit.
NSE:SBICARD
TrendLine Breakout - SBICARDThis has given a trendline breakout and can continue upwards if market sentiment is positive.
