Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Symmetric Triangle
📌 Symbol/Asset: SBICARD
🔍 Description: Stock is around its strong support.
Huge upside is possible if prices gives breakout.
We can easily see 60-80% upside from hereon.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
SBI Cards, one of the leading credit card issuers in India, has been on a downward spiral lately. It has fallen near its 52-week low and is trading at a discount to its peers. What’s behind this slump? Let’s find out!
The economic environment is not favorable for credit card companies, as rising inflation and interest rates are dampening consumer spending and...
Buy SBI Card Between 750-760
SL 710 (50Rs)
Target 1: 835
Target 2: 875
Target 3: 915
Target 4: 995
Target 5: 1160
Duration 6moths to 1 Year
Closed above 50 SMA with volume, possible reversal .
Trade as per you risk rewards.
SBI CARDS AND PAYMENT has been facing a downtrend since long and has took support and is now ready for a reversal.
Volume is also good.
ENTRY - CMP
TARGET - 808, 840,902
STOP LOSS - 746
This script is possible to breakout the weekly down trend channel the resistance of 767 and the weekly closing above this resistance. and this is a high-demand area zone. If it sustains above 767 on weekly it will reach the target of 934
Support trendline breakdown in SBI Card on weekly chart. But this looks like a fake breakdown. Confirmation will come around 890.
Disclaimer: Not SEBI registered. Showing analysis for educational purpose only. Consult a SEBI registered research analyst before taking any buy or sell decision.
Sbi card is in triangle pattern currently forming a base seems like the selling is being absorbed now the stock should start moving upwards in 1-2 years
NSE:SBICARD Only SIP when others are fearful. Long term wealth generation.
Do your own research before investing or trading in any stock or indices.
Disclaimer:
This is not a financial, investment or trade advice. Its only for educational purpose.
SBICARD on weekly Chart showing simple but Strong Price Action.
RSI approaching 30 (Oversold Zone).
Its near Major Support Zone of 650 to 712 - already bounced up 6 times from this zone.
Wait for RSI trendline Resistance Breakout Marked with Red line for Breakout Trade.
Also wait for Channel Upper Trendline Breakout marked in red for Breakout Trade.
For Support...
Banks fell badly (especially SBIN & SBI Card) after the new RBI card rules, which was a drastic reaction.
NSE:SBICARD is currently in the accumulation phase after creating strong support at 730. Once the level is broken i.e. 750, I expect a big up move.
