SBICARD trade ideas
SBICARD Support LevelsSBICARD took support at 725 levels it it sustains above 760 level it shall retest 800 levels soon. moreover it broke resistance trend-line on hourly chart. observer price action at 800 level for further direction in this script.
Possible double top can be seen at 800 level followed by a correction and then an up move can be seen.
SBI CARD DAY TRADING & SWING TRADING SELL OPPORTUNITYHEAD AND SHOULDERS FORMATION IS IN PROGRESS IN SBI CARD HOURLY CHART. STOCK FAILED TO GIVE DAILY CLOSE WITH BULLISH MOMENTUM CANDLE ABOVE IR 769 (HIGH OF 18-MARCH-2020), WHICH INDICATES THAT AT PRESENT BULLS ARE NOT INTERESTED ABOVE HIGHS OF FIRST WEEK OF STOCK LISTING.
STOCK HAS FORMED PARALLEL NECK LINE AND CURRENTLY TRADING AT RIGHT SHOULDER AREA OF POTENTIAL HEAD AND SHOULDERS FORMATION ON HOURLY CHART. MORE OVER THAT CHART HAS ALSO FORMED ASYMMETRICAL TRIANGLE AT TOP OF RIGHT SHOULDERS AREA, IF CHART BREAKS THAT TRIANGLE TO THE DOWN SIDE IT WILL GIVE BOOST AND CONFIRMATION TO BEARS FOR SHORTING STOCK AGGRESSIVELY.
SELL ENTRY: 752 (CMP- FOR AGGRESSIVE TRADERS)
STOP LOSS: 779 (1 ATR ABOVE HIGH OF LEFT SHOULDER)
TARGET-1: 735 (DAY TRADING OPPORTUNITY, UP TO RE-TEST OF NECK LINE)
TARGET-2: 690 (MEASURED MOVE AS PER HEAD AND SHOULDERS FORMATION)
CONSERVATIVE TRADERS CAN LOOK TO SHORT ONCE CHART BREAKS AND CLOSE BELOW NECKLINE (INR 730) WITH TARGET OF INR 690.
DAY TRADING SELL OPPORTUNITY
SHORT TERM TRADERS CAN TRADE WITH ASYMMETRICAL TRIANGLE BREAKOUT TO THE DOWN SIDE, WITH THE TARGET OF RE-TEST OF NECK LINE. BUT MAKE SURE THAT RISK REWARD RATIO IS FAVORABLE FOR THAT (MINIMUM RISK V/S REWARD IS 1:1)
SBI CARDS READY FOR BIG MOVEMaking a CUP & HANDLE.
Its overbought, a correction is expected.
Sell for a target of 720 and 680. 2-4 weeks.
sbi cardSBI Card is a stock which is in a very good uptrend and if it breaks this Lvl it will just rock. cant give much of targets as it has no previous levels but yeah looks good for long term as well as short-term . will retrace a bit for now to maybe around 768 or 745. a good level for buying. #my_opinion #learner
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 Cards & Payment Services Ltd BUY*Stock simply moving in up trend parallel
channel.
* one can bet on it with 06% risk cmp is 692
make stop loss on 650
* It can touch its high 769 (+11 %) and above
* Risk Reward ratio 1:2
SBICARDS at Resistance @ 769, Rally Ahead !!SBICARDs is facing resistance at all time high of 769. if it manages to close above this it can rally upto 8% from this 769 level. if you observe the chart it is making higher high's. if you divide rally percentage with previous leg rally it is in the range of 1.25-1.4. it may rally between 8.5%-9.6% from 769 levels. expecting 834-844 level in this rally.
Before that have a look at today's results of SBICARD. if results not looks good you may exit here. today's pull back suggests upcoming rally.
12/1.4 = 8.5%
12/1.25 = 9.6%
SBI CARD buy @712~722, target 790~810SBI CARD buy @712~722, target 790~810
SBI card will come down from present selling point 765~770 to 712~722 range, once can buy in this range with stop loss 700 and can have target 790~810.
SBI Cards | BUYOne of the most subscribed IPO of this year unfortunately hammered by negative COVID sentiments. The stock seems to be steadily moving on a uptrend and is about to cross listing price. This generally leads to buildup of strong upward momentum in stock. The stock is a good buy at about Rs 727 level with portfolio stop of 3 % and target of Rs 818.
SBICARDDo not buy immediate at breakout, wait for price action, look at the chart these kind of forms might be created !!
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.
SBICARDS Pole FlagSBICARDS formed a pole flag pattern on 15 min chart. Have an eye on it. As NIFTY looks bullish and eyeing 11000, this can quite easly break flag pattern and rally further. however 700 looks very short term resistance.
