Expecting a long breakout on Axis Bank.
Financials have been muted last week, trading in a narrow range, with low volume. The breakout may test the post-covid highs at 481.
STRATEGY:
BULLISH PENNANT FORMATION:
The breakout can be confirmed by the price sustaining above the top trend line.
BUY: CMP
SL: 418
T1: 465
T2: 485
The horizon is upto 2 weeks, but the stop loss is very narrow as the strategy may fail if the breakout is not sustained.
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Financials have been muted last week, trading in a narrow range, with low volume. The breakout may test the post-covid highs at 481.
STRATEGY:
BULLISH PENNANT FORMATION:
The breakout can be confirmed by the price sustaining above the top trend line.
BUY: CMP
SL: 418
T1: 465
T2: 485
The horizon is upto 2 weeks, but the stop loss is very narrow as the strategy may fail if the breakout is not sustained.
Like and Follow if you find it useful. :)
Trade closed: stop reached