This setup presents an attractive opportunity for swing traders to capitalize on the potential uptrend in SBI Cards.
Reasons are listed below :
Target - 790 // 855 // 935
Stoploss - weekly close below 670
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
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Reasons are listed below :
- Strong Support at 670-700 Levels: SBI Cards has established a robust support zone in the range of 670-700 levels, indicating strong buying interest and potential reversal points.
- Bullish Marubozu Candle: A bullish Marubozu candlestick pattern has formed in both the weekly and daily timeframes, suggesting strong buying momentum and potential upward movement.
- Engulfing Pattern: The bullish engulfing pattern on the weekly chart, engulfing four previous candles, reinforces the bullish sentiment and indicates a potential reversal of the downtrend.
- Double Bottom Pattern: A double bottom pattern has emerged on the daily timeframe, indicating a potential trend reversal and bullish continuation.
Target - 790 // 855 // 935
Stoploss - weekly close below 670
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights