Axis Bank is at resistance level of 634. Previously two times it was reverse from this level but recovered with good momentum, this indicates bulls are more strong at this situation.
This time there is much possibility it will break this level, we may see 640, 660, 700 and 750.
Stok is almost bullish on weekly and Monthly chart. Suggest to accumulate in the range of 635 to 580. Keeping strict stoploss of 575.
Considering Axis as a major contributor of Bank Nifty. Overall positive sentiment of Bank Nifty is more favorable and suggested move will be much sure if Nifty Bank will pass the hurdle of 31700, 32250 and 32500. Stated Bank Nifty move is much expected as Nifty 50 is heading towards next fibo level of 15125 after todays closing above 14050.
Play safe ! and Earn safe. Wish you all the best. Hoping stable global causes. :)
640 and 660 achieved in a single day. Nifty Bank sentiment is favorable. Bank Nifty closing today around 31700, more uplift in Nifty Bank will take Axis bank next targets.