AbhishekHSinghCMT

Axis Bank- Bang on for Monthly Move- What Next?

NSE:AXISBANK   AXIS BANK
418 views
Last Price@478.70

As per monthly update- suggested that any close below 540 can trouble the bank- look its almost got 2 big red candles which surely looks impulsive downside.

What Next?

Trading Strategy-1
Going below 473- It's likely that Axis will continue down & make new lows below 468

Alternate Trading Strategy
It's a risky call with stops below 473- once it could bounce to the zone 490-495 where it should face resistance- I shall look into the situation once it goes into that zone.


Trade active: 14:50 Hrs 7th Nov2016

Last Price@487.50

Day High@489.40

Channel Resistance - Reached very close to 490-495 as expected- This channel could act as villain.

Trade active: 15:20 Hrs 7th Nov2016

Last Price@484.05

Villain Channel Restricts Price - Mugambo Khush Hua. Reminds me of Legendary Actor Amrish Puri

Trade active: 14:11 Hrs 8th Nov2016

Last Price@489.05

Axis is in Cage & not a good stock to trade at the moment -once it breaks above the cage, then likely shall favor bulls or going below 273 & sustaining shall open downside.
Trade active: 14:17 Hrs 8th Nov2016

Last Price@489

Has a sharp fall from 491.50's -Risky call could be going short with stops above recent high@491.50 -Target -473 & Below 473 for 460-465

Nifty is at 8510

SBI came close to 248 & bounced

TCS trading at 2278
Trade active: 15:16 Hrs 8th Nov2016

Last Price@491

Risky Stop has been taken at 491.50 & above - made a marginal high@491.90- structure is not looking good as Nifty jumped 80-100 points & Axis has not moved much- so this up move looks doubtful.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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Comments

what is pricing of tradingview in India?
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Are you asking for paid subscriptions
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umeshbanga AbhishekHSinghCMT
Yes
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You can sign out of tradingview & at bottom of the website they have mentioned in GO PRO section.
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umeshbanga AbhishekHSinghCMT
But right now I am in Australia for work so its giving AUD pricing. I wanted to know pricing in India as mainly in India.
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You change the flag option on top left corner next to TradingView logo icon
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umeshbanga AbhishekHSinghCMT
I think sill giving AUD - picking up IP range.
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Then write an email to support@tradingview.com & discuss your problem in detail with them. I think if you are located in Australia -you will have to pay AUD
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AbhishekHSinghCMT AbhishekHSinghCMT
Please discuss these things in PM -personal Messenger as this is not related to the post.
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umeshbanga AbhishekHSinghCMT
Ok thanks.
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