Pk83084
Long

Axis Bank: Narrow CPR for big boom on Monday

NSE:AXISBANK   AXIS BANK
1. For 2-Jul & 3-Jul, Axis bank's prices were respecting CPR very well. In fact 3-Jul's prices were 100% within CPR range.
2. As I mentioned in my previous Idea, this narrow range is something unusual for Axis bank.
3. On 3-Jul,Bank Nifty was down 100 points as well as other banks were under pressure. Despite this Axis bucked this trend and stays on course.
4. In my personal opinion, on Monday prices should go up as CPR range for the day is extremely narrow.

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