Positional BUY Axis Bank Ltd. Buy initiated at 409.95, T: 436, SL: 378.30.
Medium term outlook: We are expecting 20% upside from current levels, provided market conditions are good. Keep a stop loss of 378.30 to restrict losses in case market corrects.
Trade closed: target reached
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Short term traders are suggested to book profits around 428 - 430 levels.
Caution: Parabolic rises stock prices can also lead to steep fall during market corrections.
Medium term investors can hold on to stock with a 20% upside from 410 levels maintaining a stop loss of 378.30.