Axis Bank
Shooting Star candlestick pattern found in weekly at an important resistance level. It is expected that price may fall down if price go below 740 level.
Please also note that price is negative in daily chart after the formation of dark cloud cover in Axis Bank. Monthly Chart and Long term trend is still bullish.
What we expect? We expect price to fall to the mean or Moving Average which would be around 650 level.
Short Sell Trading Strategy should be applied - Sell on rise after getting confirmation of bearish
Sell Below 740
SL Above 771
Target 650
Risk Reward 1:3
Shooting Star candlestick pattern found in weekly at an important resistance level. It is expected that price may fall down if price go below 740 level.
Please also note that price is negative in daily chart after the formation of dark cloud cover in Axis Bank. Monthly Chart and Long term trend is still bullish.
What we expect? We expect price to fall to the mean or Moving Average which would be around 650 level.
Short Sell Trading Strategy should be applied - Sell on rise after getting confirmation of bearish
Sell Below 740
SL Above 771
Target 650
Risk Reward 1:3