Sbicardanalysis
SBICARD: Technical Outlook, Breakout & Elliott waves AnalysisCurrent Zoomed view
Daily MACD turned Positive
Trishul Activated in RK-Brahmastra 4Hourly
Breakout
Elliott Wave Analysis of SBICARD (SBICARD)
Overall View
Zoomed View
Overview:
SBICARD has displayed a promising Elliott Wave setup, indicating the potential unfolding of a bullish wave cycle. Recent breakout movements, supported by strong volumes and positive divergences across multiple time frames, suggest a bullish bias. With various technical indicators signaling bullish momentum, the stock appears poised for further upside. However, it's crucial to exercise caution and implement proper risk management strategies.
Detailed Analysis:
Wave Cycle Completion:
On the weekly chart, SBICARD seems to have completed a larger degree wave cycle, consisting of Wave ((1)) and Wave ((2)). This suggests a significant bullish trend underway.
Current Wave Structure:
Presently, the stock appears to be in Wave ((3)), which is typically the strongest and longest wave in Elliott Wave theory.
Within Wave ((3)), we have likely completed one lower degree Wave (1) and Wave (2), indicating the initiation of a new bullish impulse.
Positive Divergences and Breakout:
Multi-time frame positive divergences, combined with a breakout accompanied by substantial volume, support the bullish bias.
Both trend indicators and oscillators across various time frames align with the bullish sentiment, providing further confirmation.
Bullish Signals:
The activation of both Brahmastra and Trishul on the RK-Brahmastra indicator, along with all green signals, indicate strong bullish momentum.
The current price action suggests the unfolding of Wave iii of (i) of ((i)) of 1 of (3), highlighting the potential for significant upward movement.
Price Targets:
If the wave counts align perfectly, SBICARD could target levels near 1050 (Equality of Wave (1)) and 1278 (1.618 Extension of Wave (1)).
Strength above 790 levels could further bolster the bullish outlook.
Risk Management:
It's essential to note the invalidation level at 655 on the lower side. A breach of this level would indicate a potential deviation from the expected wave counts and warrant a reassessment of the bullish scenario.
Traders and investors should prioritize risk management and employ appropriate stop-loss strategies to mitigate potential losses.
Educational Disclaimer:
This analysis is provided for educational purposes only and should not be construed as trading advice or tips. Traders should conduct their own research and consult with financial professionals before making any investment decisions. Proper risk management is crucial in trading, and investors should be aware of the inherent risks involved in the financial markets.
Conclusion:
SBICARD presents an intriguing Elliott Wave setup, indicating the potential for a bullish wave cycle. Positive technical signals, along with strong volume breakout movements, support the bullish bias. However, traders should exercise caution, adhere to risk management principles, and remain vigilant for any changes in the market dynamics.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
SBI CARDS - undervalued?SBI CARDS is currently at it's lowest ever P/E. It is trading at 28.5 P/E while its lifetime median P/E is 54.4. It is constantly posting good revenue and profit which makes it a very highly undervalued company at its present price and P/E. It can be considered a good buy for both short and long term.
Trade can also be taken on the basis on range bound trading strategy with range being 686 to 926 and it can give approximately 30% return from present levels. The target will be achieved within 150 days at max.
Hope you like my analysis.
Please do your own analysis before investing.
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VALUE in SBI CardsSince the past three years, business profits have been on a rise, whereas the stock has delivered negative returns. The stock is considerably cooled off and a new rally is awaited.
I encourage you to study these developments and keep in mind that any decision involving financial consideration will be completely at your own risk. This post, like all others on my channel are for educational purposes only.
SBICARDS - Elliott Wave CountSBICARDS - Elliott Wave Count
SBICARDS - the market the breaks the recent support and expected to decline up to 740 or below. we can expect a reversal from the bottom TL.
Please note that this information is solely for educational purposes, and it is essential to exercise caution when trading
NSE:SBICARD1! BSE:SCPL1! NSE:SBICARD BSE:SBICARD
SBICARD - Elliott Wave CountSBICARD - Elliott Wave Count
This is an update to the previous view.
still, the market is in correction and can expect another low. whoever takes a long position based on our earlier view can book the profit here and wait for a reversal from the 758 range.
However, if the market breaks above 810 can hold the long position for the target of 950 to 1000 range.
Please exercise caution when trading as this information is for educational purposes only.
NSE:SBICARD NSE:SBICARD1! BSE:SBICARD BSE:SCPL1!
SBICARD--Breakout Levels??Observations::
Trending upwards...
facing resistance in the zone 895-900 range.
if price breaks resistance zone, we have next resistance @920 range.
if price breaks below trendline and retest, we go for short, we have demand zone @ 840 levels.
keep track this for further momentum.
SBICARD : triangle patternSBICARD trading inside triangle patter in hour chart.
follow Support & resistance line.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
First Learn and then remove "L"
SBICARDS best positional buy setupAs per my analysis NSE:SBICARD is now getting ready to get reversal.
My positional buying entry will be level of 830, keep stop loss on 790 and hold till big targets which are 908 & 1007. This could be best risk and reward positional trade.
Note: This is my personal analysis, only for learning.
Thanks.