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SWING IDEA - SBI CARDS AND PAYMENTS

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This setup presents an attractive opportunity for swing traders to capitalize on the potential uptrend in SBI Cards.

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

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@visionary.growth.insights

註釋

In Consolidation phase right now, weekly close 765 will trigger some upside

註釋

bullish hammer confirmed

註釋

bullish Engulfing candle, HOLD!

註釋

closed above previous week's high, hold!

註釋

hold!

註釋

holding onto the support