Thermax, SBI Card look set to bounce back after correction: Mehul Kothari

For many weeks, the stock of SBI Card has been under corrective mode and has come down from the peak of 1,160 towards the 900 mark.

BUY THERMAX | TARGET: Rs 1,850 | STOP LOSS: Rs 1,640

Recently, the stock confirmed a breakout from the pattern which resembles a bullish Pennant. Later, it went till 1,943 and corrected back towards 1,700-mark. The theoretical target for the pattern is around 2,050 and the pattern is still intact. Hence, traders are advised to buy the stock near 1,725 with a stop loss of 1,640 for the upside potential target of 1,850 in 1 – 2 weeks.

BUY SBICARD | TARGET: Rs 950 | STOP LOSS: Rs 890

For many weeks, the stock has been under corrective mode and has come down