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kvsrinie

SBICARDS forming a bullish ascending traingle pattern

Long
SBI CARDS & PAYMEN (NSE:SBICARD)  
kvsrinie Updated   
NSE:SBICARD   SBI CARDS & PAYMEN
Trend Analysis Chart Patterns
2
0
trendanalysis chartpattern
Stock has been consolidating for ~9-10 months now. Trendline, 200d ema and previous high of ~920 are strong supports.
Comment:
Stock is 10% up since the call & is exactly at the resistance. We might see a small correction and a major breakout
Comment:
A small correction just as predicted from the resistance. Stock will fly soon
Comment:
Rejection from upper resistance. Wlll trend in the channel some more
Comment:
A rejection from 1141 level again. Stock has tried crossing it 5+ times in the last month. It is bullish now because of the candle on 25th
Comment:
Stock is being rejected multiple times at the 1141 level. This will have to find EMA supports and bounce back
Trade closed: stop reached:
Bullish triangle was broken and stoploss achieved. It did bounce back from the 916 support indicated here, 2 months ago! A good movement above the 200d ema will be a strong buy here
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