SBICARD is currently at a crucial technical juncture. After a long consolidation and multiple rejections from a descending trendline (marked in grey), the stock is now attempting a decisive breakout on the weekly chart.
📊 Key Observations:
Price has broken above a multi-year trendline resistance. Strong bullish candle.
Breakout level around ₹860–₹870 — previously acting as supply zone.
Volume pickup supports the breakout strength.
Immediate target shown on chart is ₹1,065, which is ~22.78% potential upside from breakout.
🎯 What to Watch:
Sustained weekly close above ₹870 could confirm breakout.
Possible retest of breakout zone before next leg up.
Stop-loss for swing traders can be placed around ₹820.
📌 Disclaimer: Not a recommendation. Do your own research and risk management.
📊 Key Observations:
Price has broken above a multi-year trendline resistance. Strong bullish candle.
Breakout level around ₹860–₹870 — previously acting as supply zone.
Volume pickup supports the breakout strength.
Immediate target shown on chart is ₹1,065, which is ~22.78% potential upside from breakout.
🎯 What to Watch:
Sustained weekly close above ₹870 could confirm breakout.
Possible retest of breakout zone before next leg up.
Stop-loss for swing traders can be placed around ₹820.
📌 Disclaimer: Not a recommendation. Do your own research and risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.