SBICARD : Towards ending correctionSBI Cards (SBICARD)
Analysis
Wave Count: Completion of a 5-wave corrective structure, with Wave 5 ending near the liquidity sweep zone at ₹668.75 (golden Fibonacci retracement zone).
Key Levels:
First Target: ₹738.00
Second Target: ₹783.00
Stop Loss: ₹650.70 (on a daily close basis)
Trend Indicators:
Price is below the 100-SMMA, signaling bearish pressure.
A break above this moving average would confirm bullish momentum.
Trading Plan
Entry Zone: Around ₹675.05 (near the completion of Wave 5).
Confirmation Criteria:
A strong bullish candle with above-average volume breaking and closing above ₹685.
Stop Loss: ₹650.70 (on a daily close basis).
Targets:
First Target: ₹738.00
Second Target: ₹783.00
Risk-Reward Ratio: Favorable for entries near ₹675, with potential upside toward ₹783.
Sbicardsprediction
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--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.