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
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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
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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
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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
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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
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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.
Comments
umeshbanga
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what is pricing of tradingview in India?
WaveTalks
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Are you asking for paid subscriptions
umeshbanga
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Yes
WaveTalks
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You can sign out of tradingview & at bottom of the website they have mentioned in GO PRO section.
umeshbanga
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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.
WaveTalks
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You change the flag option on top left corner next to TradingView logo icon
umeshbanga
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I think sill giving AUD - picking up IP range.
WaveTalks
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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
WaveTalks
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Please discuss these things in PM -personal Messenger as this is not related to the post.