This setup presents an attractive opportunity for swing traders to capitalize on the potential uptrend in SBI Cards.

Reasons are listed below :
  • Strong Support at 670-700 Levels: SBI Cards has established a robust support zone in the range of 670-700 levels, indicating strong buying interest and potential reversal points.
  • Bullish Marubozu Candle: A bullish Marubozu candlestick pattern has formed in both the weekly and daily timeframes, suggesting strong buying momentum and potential upward movement.
  • Engulfing Pattern: The bullish engulfing pattern on the weekly chart, engulfing four previous candles, reinforces the bullish sentiment and indicates a potential reversal of the downtrend.
  • Double Bottom Pattern: A double bottom pattern has emerged on the daily timeframe, indicating a potential trend reversal and bullish continuation.


Target - 790 // 855 // 935
Stoploss - weekly close below 670

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@visionary.growth.insights
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In Consolidation phase right now, weekly close 765 will trigger some upside
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bullish hammer confirmed
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bullish Engulfing candle, HOLD!
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closed above previous week's high, hold!
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hold!
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holding onto the support
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hold!
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Momentum is picking up!
Trade closed: target reached
1st target achieved : 11%++
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