SBI Cards and Payments Ltd - Elliot WaveSBI Cards made a low till 500 in 26 May and took a rally till it all time high of 794 this week. It has created a perfect elliot wave pattern. Now it formed Wave 5. Open for suggestions and improvements... :)
SBICARD trade ideas
Watch out SBI CARDSSBICARD is taking support on RSI trend line currently, if it closes below the trend line for the day, a potential downtrend is implied. At the same time, if it can't break it an Uptrend is implied.
This is as per my analysis.
Happy Trading.
Currently, I am learning fundamental and technical analysis of the stocks. Please feel free to comment on the post, if I did any mistake in Analysis.
Bullish on SBI cards and payments!!!Simple analysis:-
1. RSI above 60
2. Volumes more than 20 day Moving average
3. Fib extension 1.618 indicates a near term target of around 776
4. Continuous up trend since May and June as can be seen in higher tops and higher bottoms / upward sloping trendline
News today :- Results are good for the quarter ending June 2020
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Looks BULLISH NSE:SBICARD
sbi card uptrend formation is shown up in chart.expecting market ll be touched highest low but if crosses 769 market will be touched new high,bullish ,
SBICARD, STOCK BEHAVIOR STUDY (CHART# 296)This chart is for demonstrating how each stock have its own characteristic and study of past behavior of stock can greatly help us its momentum in future.
SBICARD has followed a series of flag patterns and breakout which witnessed volume spike and then consolidation. Over repeated pattern formation, SBICARD is slowly fading out as height of its move is gradually decreasing.
Using price action analysis, one should always look at its past behavior to shortlist high probable setups. There are stocks which follow fibonnaci 61.8% retracement repeatedly and using this past behavior information is very useful in placing high RISK to REWARD trades.
Price action trading is a process of using price to analyze stock possible movement. Keep your charts as simple as possible so that you keep focus on most important element on chart "PRICE".
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Reach out if you wish to learn simplest form of price action and willing to put effort in practice.
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Piyush Gupta
What to do after Q1 Results.Fantastic run up to the earnings. Here is what we should look out for if the earnings are good: first resistance of 769 (52 week high), second resistance of 770-775 (upper trading band range). Then this will fly high.
If the earnings are bad follow these levels and add on every support: 725, 720, 710, 703, 695, 685, 660. Beyond 660 stop adding, and hold it for at least 6 months. This is going to give exponential returns.
And if you haven't checked it out yet, take a look at my previous post on this scrip. The targets given were: 690, 725, 755, which were followed inch perfect by this scrip ;)
Happy Trading.
Stay home, stay safe.
Cup and Handle Pattern in SBICARDIt tested the resistance of 640 third time today, ever since it has been listed. Finally it broke the resistance and achieved a quick upside target of 655. Since it has closed above 655, contributed by heavy volumes, it can achieve an upside target of 690, 725, 755.
People who sold this in losses are soon going to lament their decision ;)
SBI Card at Resistance of IPO PriceSBI card is at resistance levels of IPO price 755. Many investors are holding it at an IPO price of 755 and they are waiting to book profit. Hence SBI card many face sell-off pressure from its previous high of 769. Do watch out for price action before taking the trade.
Please Note - All the green lines mean the support zone/demand zone
and all the red lines mean the resistance zone/supply zone.
SBICARD - Bullish move post consolidationNote: This is for educational purpose only.
There seems to be a bullish breakout with rise in volume. RSI is at 70+ which indicates strong bullish momentum but overbought too. There will be some consolidation before start of the next bullish rally.
SBI CARDS This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
SBICARD | Long | Bullish | Above 724 looks strongSBI Cards may have not had the perfect listing of 2020, but it has the potential and a strong business. The stock has gained good momentum and is trading within a trendline channel.
Above 724 if the stock can sustain the price, it may reach 750-758 in the upcoming days.
SBICARD in downsideSbicard creates the Rising wedge pattern on the daily chart and make the bearish candle at the top line and now come to down more points.
Sell near 700 and put the stop loss 710 and target is 691-680-670.
Intraday Trade in SBICARD.Chart forming higher highs & lower lows pattern.
Buy on dip strategy will work fine.
SBICARD Trade SetupThose who have missed opportunity of buying at the dip of the channel, can go Long now, as it has crossed 100% Fib levels both on Daily and weekly charts. The profit target can be high of the channel or next Fib level i.e, around 734.
This is as per my analysis.
Happy Trading.
Currently, I am learning fundamental and technical analysis of the stocks. Please feel free to comment on the post, if I did any mistake in Analysis.
moving upward in 1 hour of timelinemoving upward in 1 hour of timeline i think it will move upward waiting to cross 1hr of horizontal line....
A beautiful level for SBI cardSo clearly you can see by the box visual, don't have musch to say about the moment of the stock. Since the stock is not very old listed it is repeating the it's previous chennel zone.
sbi card in buy zone sbi card near strong support and also following a channel buy at a level 620 approx target 750
Short term bearishIn short term bearishness is seen and a level of 598-600 is seen. Breakout may be seen if it crosses 692 by the end of July.
SBI Cards good to buySBI Cards good to accumulate at current price for mid term, stock is forming inv H&S
