504 was an important level

Axisbank has seen 3 days of sharp decline. It took a momentary pause at 504; below are some reason why I think 504 was imp

1) Based on pure price action 504 was a support level

2) EW count - as seen in the chart C=1.618A at 504

3)In the zoomed out version below, we can see that 504 was the level where axis broke out from a falling trendline

A green open on monday can be bought into. Break of today's low takes us to 495.

?? For educational purpose only; not a recommendation to trade??


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