SBI CARDS is currently at it's lowest ever P/E. It is trading at 28.5 P/E while its lifetime median P/E is 54.4. It is constantly posting good revenue and profit which makes it a very highly undervalued company at its present price and P/E. It can be considered a good buy for both short and long term.
Trade can also be taken on the basis on range bound trading...
SBICARD - Elliott Wave Count
This is an update to the previous view.
still, the market is in correction and can expect another low. whoever takes a long position based on our earlier view can book the profit here and wait for a reversal from the 758 range.
However, if the market breaks above 810 can hold the long position for the target of 950 to 1000...
SBICARDS - Elliott Wave analysis
SbIcards - It's time to close short positions as the reversal impulse wave 5 is expected soon.
Wave 5 targets 900 to 1000.
If the red line breaks, the view is invalid. Trade with caution.
NSE:SBICARD BSE:SCPL1! NSE:SBICARD1!
Observations::
Trending upwards...
facing resistance in the zone 895-900 range.
if price breaks resistance zone, we have next resistance @920 range.
if price breaks below trendline and retest, we go for short, we have demand zone @ 840 levels.
keep track this for further momentum.
SBICARD trading inside triangle patter in hour chart.
follow Support & resistance line.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
First Learn and then remove "L"
As per my analysis NSE:SBICARD is now getting ready to get reversal.
My positional buying entry will be level of 830, keep stop loss on 790 and hold till big targets which are 908 & 1007. This could be best risk and reward positional trade.
Note: This is my personal analysis, only for learning.
Thanks.
On 6the May 2021, the stock saw a gap up opening, followed by a big bull candle, which further followed by sideways move same and next trading day, i.e today.
Seeing this price action, if the price sustains 970 levels, it could head towards 1040 and 1080 levels in the very near term.
