SBI Cards is into marketing and distribution of credit cards.
The stock has corrected around 32% recently from it's recent and all-time highs.
The weekly chart below indicates that 774 - 787 is a strong demand zone. This is a resistance-turned-support zone. The stock has, in the past, taken good support from this region and reversed quite well.
Channels view of the same weekly chart is as below.
The stock has reversed from the channel mid-zone, which happens to be the same zone as above.
Daily chart :
The stock is in a descending channel and has shown bounce from the channel support.
The daily RSI shows that the stock has reversed from its support zone.
SBI Cards is fundamentally a very good stock.
The recent market correction has given a good opportunity to take a position.
The stock has continue its upward journey.
Should the PSU sector do well, it can breach its ATH and inch further.
This information is for informational purpose only and shouldn't be considered as a trade recommendation.
As Rahul always recommends, please analyze any stock from all possible time frames, indicators with more emphasis to the price action.