SBICARD – Descending Triangle Breakout 920 to 1100+ TargetSBICARD has been trading within a descending triangle pattern for an extended period, with lower highs and a strong horizontal support. This pattern is typically bearish but can lead to bullish breakouts when resistance is breached, as seen in this case.
Breakout Confirmation & Key Levels
Resistance Breakout:
The stock has successfully broken above the descending trendline resistance, indicating a potential trend reversal.
Buying Zone:
Above ₹800 – A sustained move above this level confirms the breakout.
Stop-Loss Level:
Below ₹750 – Any close below this level could invalidate the bullish setup.
Target Levels:
Initial Target: ₹920+
Projected Target: ₹1100+ (based on pattern height projection)
