AXIS BANK LTDShort
AXIS BANK 1D TF Analysis -2/18
Pattern -- Elliot wave impulse formation
Current wave - Wave E
reason:
1) wave D not overlap wave A territory( check in monthly chart)
2) Wave E reached 1.618(1162) level of FIB.(Before it look a resistance at 1.232(955)level of fib).
Daily TF Analysis:
1) It look resistance at 1.618 level +highest OI
2) Histogram showing some weakness in MACD
3) RSI revering (Momentum fading down).
Immediate S&R:
Support -1109-1100
Resistance -1162
As per parallel channel pattern it may reach 1370( 2 level of Fib if it breaks 1162 level.
Current wave - Wave E
reason:
1) wave D not overlap wave A territory( check in monthly chart)
2) Wave E reached 1.618(1162) level of FIB.(Before it look a resistance at 1.232(955)level of fib).
Daily TF Analysis:
1) It look resistance at 1.618 level +highest OI
2) Histogram showing some weakness in MACD
3) RSI revering (Momentum fading down).
Immediate S&R:
Support -1109-1100
Resistance -1162
As per parallel channel pattern it may reach 1370( 2 level of Fib if it breaks 1162 level.
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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.
Disclaimer
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.