SBICARD

in Oversold Zone; Wait for Confirmation Above Key Level

On 28th July 2025, the stock price of

dropped sharply by 5.79%, and the candlestick formed was outside the lower Bollinger Band, signaling extreme selling pressure. Following that, the downtrend continued over the next three sessions — 29th, 30th, and 31st July — with candlesticks consistently closing outside the lower Bollinger Band, which indicates that the stock remained in the oversold zone for an extended period. On 30th July, the RSI (Relative Strength Index) dropped to 22, a level that further confirms the stock was deeply oversold. RSI values below 30 typically suggest the selling may be overdone and a reversal could be near. On the same day, the stock also closed below its 200-day moving average, a key long-term support level. Closing below this level often implies weakness in trend, and traders generally wait for the price to recover above this line before entering fresh long positions. On 1st August, a Doji candlestick was formed, signaling indecision in the market. A Doji after a sharp fall is often seen as a potential reversal signal, suggesting that the selling pressure may be easing. investors are advised to wait till the stock price closes above 200 moving average