SBICARD – Descending Triangle Breakout 920 to 1100+ Target

SBICARD has been trading within a descending triangle pattern for an extended period, with lower highs and a strong horizontal support. This pattern is typically bearish but can lead to bullish breakouts when resistance is breached, as seen in this case.

Breakout Confirmation & Key Levels

• Resistance Breakout:
  

The stock has successfully broken above the descending trendline resistance, indicating a potential trend reversal.

• Buying Zone:
  

Above ₹800 – A sustained move above this level confirms the breakout.

• Stop-Loss Level:
  

Below ₹750 – Any close below this level could invalidate the bullish setup.

• Target Levels:
  

Initial Target: ₹920+
Projected Target: ₹1100+ (based on pattern height projection)