Axis Bank : Go Short For Short Term

Dec 11, 2016

Dear readers, I have been unable to put up the previous wave counts here because of the constraint of non availability of the previous data on the chart. However, from other site, viz., in.investing.com, whereby the charts are powered by in.tradingview.com itself, I have fetched a similar chart with previous data on chart, and if possible I would surely be putting up the same here in this post, may be later on.
For now let us have a look at the chart of Axis Bank's stock. As we can see that, according to my opinion, the stock is in the complex correction and the correction may or may not get over at or around the support line - the parallel line - drawn, indicating the expected move. One can, for now, go short in the stock of Axis Bank with the target of 360 - 370 with the stop loss of 475 - 485 (chose stop loss as per your risk appetite). Currently, the stock has closed at 455.65 on NSE on Friday 9th December, 2016.

Your Suggestions, views and comments are welcomed.

Dec 15, 2016

Note

Dear readers,

Please, refer to the chart given below. The stock of the Axis Bank Ltd has been showing corrective rally and may extended upto 485 or more but not beyond 487. However, it is expected that the stock may start its southward movement once it will finish up its corrective rally.

Dec 15, 2016

Note

Dear readers,

Please, refer to the chart given below. The stock of the Axis Bank Ltd has been showing corrective rally and may extended upto 485 or more but not beyond 487. However, it is expected that the stock may start its southward movement once it will finish up its corrective rally.

sorry for the wron chart in previous update..