AxisBank has the same potential of moving up and around our entry zone, we are early here, so wait & confirm reversal before accumulating the stock. I have marked the zone 450's to 470's for entry, use any technique in this zone to accumulate ( averaging, after confirmation or based on pattern). Our stops go below 415's, even if you buy around 470's ( max price ) our risk in AxisBank will be 60 points with reward around 350 points over 4-7 months.
Any of you got confused about the corrective I have shown above, its irregular correction. I haven't shown this to you in public post, anyway here it is & the corrective wave is perfectly fine, Don't worry !
One more thing I want to clear, Just don't buy bcos I'm investing in Axisbank or I posted the analysis, check for yourself about the fundamental before investing. I'm expecting 800 by Mar'17 in AxisBank , almost 75% increase from here, it will look tempting when compared to Bank Interest rate but risk is involved here. So check your portfolio size and allocate only the amount which you can spare & Take investment decisions wisely.
This is longterm setup, so Patience is the real Key to Success !
By the way if you want any long term investing stock analysis - comment below. I will do the first 2 scrips :)
And That felt good :)
You simply Rocked !
I know its late but I have one request. Your inputs on Nifty monthly chart. Has the fifth wave completed at 8960 level (as a truncated one) and have we entered corrective waves part (a)?