amankavi

Axis : Can reversal save it from crucial support levels..

NSE:AXISBANK   AXIS BANK
The scrip is nearing 52 week low levels however scrip can take reversal now if bullish momentum is gained owing to :
1) Reversal with good volume buying at support levels after continuous bearish trend
2) %william showing uptrend (surge usually results in pullback at top levels so wait for the confirmation at entry range)
3) On day charts, Bullish spinning bottom is seen at bottom which usually results in reversal

If there is breakdown, Get ready to earn profit by short and playing BEARS role :)


Thanks Neetesh :)

TP mentioned in chart
SL as per risk appetite
Comment: Although the scrip showed bullish trend during the day however, couldnt reach the resistance level to enter for confirmation of the trend so will wait further..
Bears tried to pull back the price action however, it couldnt either result in bearish engulfing nor harami candlestick pattern henceforth confirming the bearish trend
Comment: *henceforth not confirming the bearish trend
Comment: Although, Missed the rally as the scrip managed to cross target 1 and beyond
Planning to enter now with the momentum as the scrip has been bullish in ascending channel making higher HIGHS and LOWS towards TP as defined. If the scrip manages to breakout from ascending channel, one can aim for long as shown by bro, Akshat :)


Comment: *typo - Entry range around 512 after checking the momentum
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