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Technical Analysis of SBI CARD
This document provides a technical analysis of SBI CARD stock, highlighting its current market position, stop loss, and potential targets. We'll examine the breakout on the daily chart and its implications for investors.

by RA ALOK DAIYA SEBI Reg. INH000011468

Report as on 27th Aug 2024
About SBI CARD
Leading Credit Card Issuer
SBI CARD is a leading credit card issuer in India, offering a wide range of credit cards tailored to different customer segments.
SBI Subsidiary
SBI CARD is a subsidiary of State Bank of India (SBI), one of India's largest public sector banks.
Strong Brand Reputation
The company has a strong brand reputation and a large customer base, providing a competitive edge in the market.
Current Market Position

1

Stop Loss
The recommended stop loss for SBI CARD is set at 718, based on end-of-day (EOD) analysis.

2

Current Market Price (CMP)
SBI CARD is currently trading at 736, indicating a positive position above the stop loss.

3

Potential Upside
The analysis suggests room for growth, with multiple target prices identified.
Target Prices
1
First Target: 748
This represents a conservative estimate for short-term gains.
2
Second Target: 765
A mid-range target, suitable for medium-term investors.
3
Third Target: 785
The most optimistic projection, potentially achievable in the longer term.
These targets provide a range of potential outcomes for investors with different risk appetites and time horizons.
Daily Chart Breakout
The analysis is based on a breakout observed on the daily chart. This technical pattern suggests a potential upward trend in the stock's price.
Breakouts often indicate a shift in market sentiment and can precede significant price movements.
Technical Indicators
Volume
Increased trading volume often accompanies breakouts, confirming the trend's strength.
Moving Averages
The stock may be trading above key moving averages, supporting the bullish outlook.
Relative Strength Index (RSI)
The RSI could be indicating bullish momentum without being overbought.
Risk Management
While the analysis is bullish, it's crucial to implement proper risk management strategies.
  • Adhere to the specified stop loss of 718 to limit potential losses.
  • Consider trailing stops as the stock approaches each target price.
  • Diversify your portfolio to mitigate stock-specific risks.
Always conduct your own research and consult with a financial advisor before making investment decisions.