Axis Bank- Sell with Bearish Shark@530-533 -Targets-515- 506-500

AbhishekHSinghCMT Updated   
Looking for weakness below 530-533 zone with shark harmonic structure having strict stops above 537 - We shall look for targets 515 -506 & 500 lows in 2-3 days trading session.

Trade probability shall be better, if it holds below 530-533 zone
Trade active: 12:14 Hrs 13th March 2018

Last Price@530.15

Analysis based on spot price.

532 has been tested twice in last one hour of trading & in the zone 530-533 as suggested above in main update, so we are in the trade - waiting for market to show the direction ahead.

Shall Trail the stops to cost as well @533+ Be very strict in risk management -if you are not getting good trade atleast don't lose anything.
Trade active: 12:59 Hrs 13th March 2018

Last Price@532

Traveled above 533 - making new high@533.35

Safe Traders - Exit taking minimum loss of 1 -2 points whereas Risky Traders should sell with stops above 537

Safe Traders should join below 528 lows for lower targets
Trade active: 13:08 Hrs 13th March 2018

Last Price@530.50

Pressure Started for Axis- Waiting for Markets to support for desired downside direction.
Comment: 13:46 Hrs 13th March2018

Last price@531

Book partial profits In Axis Bank as Bank Nifty is strong above 24900 levels - looking upside
Bank Nifty -Current price@24940
Comment: 13:52 Hrs 113th March2018

Last price@530 - Axis Bank

Last Price @24844- Bank Nifty

Sudden fall in Bank Nifty below 24900 levels forces axis bank also
Trade active: 14:02 Hrs 13th March 2018

Bank Nifty Last Price@24685

Axis Bank Last Price@529

What a fall below 24900 levels hardly given any time - Time was given to Axis Bank where it was doing distribution pattern - reaction was seen in Bank Nifty - Wow!
Comment: 14:05 Hrs 13th March 2018

Bank Nifty Chart@14:02 Hrs

The fall of the day below 24900

Trade active: 14:15 Hrs 13th March 2018

Nifty last Price@10390

Did "Axis" set the tone for the markets - what a surprise fall for Nifty as well from 10478 to 10377- wow!

Trade active: 14:58 Hrs 13th March 2018

Last price@534..50

528 - Holding for Axis Bank it Jumps sharply to 534+ with Bank Nifty & Nifty back sharp bounce upside.
Trade active: 15:05 Hrs 13th March 2018

Last Price@534

Axis Picture Holding 528 key level as mentioned.

Trade active: 15:13 Hrs 13th March 2018

Last Price@530 - Axis Bank

Cheers Risky Traders Selling at Top@534-535 - This is your day - Market Tanks again from bounce - What a roller coaster ride – Awesome

Sell at tops & book at bottom range till the time it goes in either direction later.

Trade active: 15:30 Hrs 13th March 2018

Last Price@531

Bouncing again from lower levels of 528-529 - What a day to end.
Trade active: 10:40 Hrs 14th March 2018

Last Price@524.80

Take Some Profits in 523-525 zone - we shall later on bounce or sell below day's low @522.50
Trade active: 11:15 Hrs 14th March 2018

Tata Motors Update

Last Price@351

Box Movement in 350-355 zone - Buy Close to 350 - Strict Stops Below 350 lows for Target 357-359-361 or Buy Above 355 Highs

Trade active: 11:48 Hrs 14th March 2018

Axis Bank Last Price -524.50

Bouncing close from day low@522.50 - Current low was 523.30 - Have suggested to book profits in 523-525 zone @10:40 Hrs - an hour back.

Looking for bounce upside along with Bank Nifty from lows below 24500 - Later we will check for selling once we get the bounce.
Trade active: 11:54 Hrs 14th March 2018

Tata Motors Update

Last Price@350.25

Just dipped below 350 to take the stops - dipping below & bouncing above 350 levels is good enough to hold long positions - safe clue will be once it crosses 351.50 level. This happens to get rid of weak positions or push you out of the trade.

Have patience & look for upside bounce to 357-358 zone
Trade active: 12:43 Hrs 14th March 2018

Nifty Update Last Price@10350

Bank Nifty Last Price@24625

Nifty looks to join the Bank Nifty which was expected to bounce from below 24500 levels ( 125+ points at present)

Nifty moving & holding above 10350 - Nifty to bounce for 10450/10460 -10500 target next
Trade closed manually: 13:40 Hrs 14th March 2018

Axis Bank Last Price@529-530 - Picked the Bounce from 523-525 zone - lows of the day

Tata Motors @352 - Got the bounce from 350 levels as expected

Bank Nifty @24700 - Got the Bounce from 24500 levels - 200 + points

Nifty @10380 - Got the Bounce from 10350 levels

Bye ------------Closing ---------------------Bye

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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

Twitter Handle

Telegram Handle

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.