SBICARD good for Investment with technical analysisSBICARD giving breakout at 1140 in the monthly chart.
SL is 883 closing basis
Sbicards
SBI Cards Short TermThe stock has reached lower trend line and took support and is ready for a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
SBICARD consolidating at imp levelsOn 6the May 2021, the stock saw a gap up opening, followed by a big bull candle, which further followed by sideways move same and next trading day, i.e today.
Seeing this price action, if the price sustains 970 levels, it could head towards 1040 and 1080 levels in the very near term.
SBICARD IMPORTANT LEVELS FOR BUYINGSBICARD has seen a remarkable rally from 500 levels to 1100 levels in the past 1 year.
Currently, we are seeing some correction in the stock.
The monthly and weekly structure is still positive, though it looks weak on the daily chart and the current price action also indicates that this correction can extend a little more.
Important support that Weekly and daily chart gives around 850 levels.
And the major support levels come around 799 - 670, which you can say lifeline support.
So keep an eye on the stock and grab the opportunity when stock presents it to you.
Trade/Invest at your own risk.
SBI Cards | BUYAfter responding positively to the support ₹756, the stock has been continuing its upward movement. It has risen over ₹800, which has now become a support level for the stock. Expect the price to rally further and hit fresh highs.
SBI CARD - net profit Rs 346 crore in April-June quarter - Level#SBICARD reported net profit of Rs 346 crore in April-June quarter. Today stock touched previous all time high and face resistance on same level and closed red with near doji candle. Stock is moving under channel. Can reverse to support trendline from above in case of profit booking from overbought zone.
Showing Bullish result in Technical Parameter:
CCI iin overbought zone
MACD is treading UP above 0
RSI in overbought zone
Stoch in overbought zone
MFI is above 80
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Support : 727 and 705 or 20EMA
Breakdown : 739
LTP : 751
Breakout : 763
Short Target : 769 and 788
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Positive & Negative Point:
1) bullish in Daily/Weekly/monthly chart
2) Close within 52-week high
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(Disclaimer: This is only for educational purpose and paper treading.)
SBI CARD - Time to take pauseSBI Card Formed Bat Pattern on the daily chart with a precise prz in the area of 740 . This Pattern possessed three levels in tight zone of 735 - 742.
The Bat is the most common and precise pattern and requires a smaller stop loss than other patterns.The 0.886 XA retracement is the most critical level in the Bearish Bat pattern.
I Always wait for the entire PRZ range to be tested to validate the completion of the pattern, though it delays the execution process, but the trade you take then won't test much of your patience.
Note : BC swing slightly exceeded the A Point , so its not a perfect Bat pattern, but i am considering it as a Bat pattern, because of the close alignment of various Fibonacci ratios in the prz area..So Slight adjustment/leeway is allowed in the real trading world.
SBICARD - BREAKOUT SETUPOn hourly chart stock started to form higher high formation, and rsi is also well aligned the price, suggestion price up move is fueled by the good momentum.
So everything as of now looks good on the charts , and any breakout above the trend-line would possibly lead a good move in the stock and stock could be seen reversing the down trend its being seeing since listing.
This trade has great risk reward ratio.
So always plan ahead and reap the profits.
Do not follow blindly, please do your own research.
