SBI Cards Share Price Rally: Stock Crosses ₹660 After Long Slump; What Experts Say

SBI Cards and Payment Services shares staged a strong rebound in early trade, gaining more than 4.5% and moving above the ₹660 mark. The stock opened at ₹641 and climbed to an intraday high of ₹667.40, emerging among the notable gainers in the futures and options segment.

The rally comes after a prolonged period of weakness in SBI Cards shares. Investors are now watching whether the stock can sustain its recovery and break above the crucial ₹670 resistance level. Recent technical data also places the stock near its 200-day moving-average zone, making the next few sessions important for its trend.

SBI Cards Share Price: ₹630 Support, ₹670 Resistance

According to Jigar S. Patel of Anand Rathi Investment Services, ₹630 is an important support level for SBI Cards, while ₹670 is the key resistance.

A sustained breakout above ₹670 could open the way towards the ₹700 level, according to the technical view cited in the market report.

For traders, therefore, the ₹630–₹670 range remains important. A decisive move above resistance could strengthen the short-term recovery, while a failure to hold support could revive selling pressure.

SBI Cards Shares Recover After Prolonged Decline

SBI Cards has remained under pressure for much of the past year. The stock had fallen from levels around ₹1,000 and touched a 52-week low of approximately ₹565 in June.

The recent recovery follows a period of volatility. On September 1, the stock closed at ₹632.40 after touching ₹660.35 during the session, while September 2 saw a close around ₹629–₹641 depending on the market-data source and reporting time.

Technical indicators show that the stock has been attempting to build a recovery, although longer-term moving averages remain an important hurdle. Moneycontrol's September 1 technical data showed the 200-DMA at ₹715.51, while another September 2 technical reading placed the 200-day average around ₹648.40. Differences can occur because technical platforms update at different times and use different calculation conventions.

Should Investors Buy SBI Cards Shares?

The latest broker and analyst views suggest a mixed picture rather than a straightforward buy signal. Trendlyne's September 2 data showed a consensus target of about ₹690.67 with a Hold rating, while a July Motilal Oswal report carried a ₹700 target with a Neutral rating.

This makes the ₹670 resistance particularly important. If the stock sustains a breakout above that level, the ₹700 zone could become the next technical area to watch. Investors should nevertheless consider the broader trend, company fundamentals and their own risk tolerance rather than relying on a single technical level.

SBI Cards: Company Profile

SBI Cards and Payment Services is a leading credit-card issuer in India and is promoted by State Bank of India. The company is headquartered in Gurugram and operates in the credit-card and payments business.

With the stock now attempting to recover from its recent lows, market participants will closely track the ₹670 resistance and ₹630 support. A decisive breakout could improve the short-term technical setup, while renewed weakness below support could signal that the broader downtrend remains intact.