Axis bank is excitingly poised for a trend reversal. This could happen at the 360 support levels or earlier. The stock is currently showing a bullish engulfing pattern on weekly chart. This stock has been range bound between 360 and 640 over the past 30 months. Will update once major indicators confirm trend reversals.
Comment:
Stock showing some strength. I would still wait for further confirmation before initiating fresh positions. Current levels are acting as good resistance.
Trade active:
There is great deal of volatility on this stock. I expect an upward move from this point. Buy at near lows tomorrow
Trade active:
Great move today and I expect this momentum to continue next few sessions