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.