SBICARD The company specializes in issuing credit cards to consumers across India. Over the last five years, it has achieved impressive profit growth at a CAGR of 22.7%.
Additionally, the increasing presence of sales representatives in malls promoting SBI Cards is expected to drive further sales growth. Considering these factors, a long position can be taken with a stop loss of ₹40.
Technical Analysis:
- A Bullish Engulfing Pattern has formed at a key support level (visible on both the daily and weekly charts).
- The stock is near a trendline and appears poised for a breakout, especially if market sentiment shifts from bearish to bullish.
Entry: 735-740 range or 750 CE (next month expiry) to avoid volatility.
Target: Short-term swing trading and long-term targets are highlighted in the chart.
Stop Loss: 695 (on a closing basis)
Feel free to share your thoughts on my analysis!
Happy Trading!
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