SBICard - Good Long Opportunity
Updated
The stock has experienced a downturn following the introduction of new regulations. However, notable developments in its price action indicate potential for recovery:
Note: This analysis reflects my personal opinion and should not be taken as professional financial advice.
- The stock showed signs of a rebound in the last day, evidenced by a significant selling wick, which suggests heavy buying activity at the demand zone.
- It managed to close above its low on 30th October, a point where substantial buying was previously observed.
- Based on these observations, levels have been identified for two potential trading opportunities.
- The trend line is acting as a resitance, it can give a decent return once it crosses above
Note: This analysis reflects my personal opinion and should not be taken as professional financial advice.
Trade active
Target 1 Achieved. Target 2 is on. One can bring SL to c2c or latest swing low.Trade closed: target reached
Trade closed
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