SBICARD trade ideas
SBICARD NSE Breaking Out of Triangle with Good VolumeSBI Card is breaking out of Triangle with good volume, The candle being formed is bullish belt hold, if it holds this position by EOD, Good Buying opportunity with SL of 867.
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#SBICardsSBI Cards is bullish in higher time frame after Breaking ATH. Though it still hasn't gave a good move.
We can see a raw ATP in 75M TF. We can expect a decent move once it Breaks the TL.
SBI CARD For Short TermStock is moving on HH & HL pattern. Going to Break Latest High, which will be our entry point.
SBICARD -- LOOKS GOOD FOR UPSIDE MOVESBICARD is in up move making higher high and higher low with following proper road as per the trendiness .Expecting it to move up very soon ..
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 CARDS & PAYMENTA Cup and Handle pattern on the chart and the handle breakout is awaited.
Above 800 it could be explosive.
RSI is at attractive levels
Uptrend HH and HL Trading examplehow to spot uptrend
1) adding a trend line in the chart which works as a support .
2) breaking of downtrend
HH : previous high
HL : previous low
trading uptrend market is simple
here HH is acting as a support so take time and add a zone at the higher high and analyze the candle (hammer , pin bar) perfect and at the bounce add some in to portfolio.
HL : price retest this zone and break the HH and again retest the HH as a support .
SBI Cards Price ReversalThe stock is facing resistance as per Harmonics at PRZ1 - 803.85 and PRZ3 - 807.45. One can book profits and lookout for reentering into this stock at around 769.00 levels.
Sbi card might ride bull a little longer.It looks like Sbi card will take a proper bull ride. I am invested till it touches my Fib to 1.618. Lets see.
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.
