AbhishekHSinghCMT
Long

Axis Bank - Hatrick What Next?- Bounce for 500 Levels & Bottoms

NSE:AXISBANK   AXIS BANK
523 14 12
Leaked Letter at bit.ly/2nQoJI8

Type the above code to get the letter which gave a push to 502 - Amazing!

Excited as got back 2 back 3 moves all between 500 to 483 zone. There is mini bottom at 483-484 zone -holding above that zone it can bounce in the zone 498-502 again & face resistance.

Trading Strategy
Buying with stops below 483 in the zone 485-487 for target zone 498-502 zone or above 490 can be another attempt.

You would love to read previous updates

Below 500 for 486-489 & then push above 490 for 498-502


Falling from 502 highs to 483-485 zone
Trade active: 15:15 Hrs 27th March2017

Last Price@487

Moved into the zone 485-487 but markets are about to close so we will try to take positions in next session & possibily above 490 or extreme bottom zone close to 483-484 so that we lose 1-2 bucks as stops if goes below 483.
Trade active: 12:08 Hrs 28th March 2017

Last price@500 (Close 499.80)

Magic of 500 - 3 times - It's a new year magic & the magical number is 500 -Kissed & out

snapshot
Trade closed: target reached: 12:31 Hrs 28th March - Happy Gudi Padwa

Last price@498.50

Done & Out at 500
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Nice one @AbhishekHSinghCMT :) . Once you posted this, had full confidence that the stock has to go up now ;)
Reply
@dravya, Thanks. We should keep working on risk management more as everyone knows how to enter the dragon but very few can control their greed & has capacity to over power the monster.
Reply
dravya AbhishekHSinghCMT
@AbhishekHSinghCMT, Very true. Noted :)
Reply
The ball is in your range.....
Reply
@avibandal, Yes. It is good experience for me as well.
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SIR below 483 SL will be on daily basis?
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@ms555, 483 if gets breached intraday or daily - it should be considered out but yes if it just goes below 483 -not spending even 5-10 mins -bouncing back should always be kept an eye as a bounce candidate.
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@ms555, Hope you took the trade because you can't get setups with such lucrative risk & reward.
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Abhishek, should we apply Elliott theory in intraday or long term. my teacher told it works good only in long term. Is he correct according to you??
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@hulra55332, It depends on person 2 person. I prefer longer term charts.
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