Axis Bank - 570 - 500 - 570? - Ending Diagonal /Flicker Book

AbhishekHSinghCMT Updated   
Axis Motion Pictures Presents ----------------------- "Ending Diagonal " ----------------------------------------

8th Feb 2018

Last Traded Price@555.50
Current Price @556 ---Axis Bank Intraday looking for a bounce between 562 -565 -gets resistance if holds in the range expect a fall to 535-540

14th Feb 2018
Holding 565 -568 zone (8 points away from 577 - double top our stop loss) falls from 565 to 551 - What a fall

15th Feb 2018
Touches the zone 530-535 - Making Day low@531.35 & What a bouce to 555 -Superb!!!

19th Feb 2018
Last Price@532 - Retest of bottoms in 528-529 can be possible before we see a bounce higher for the day

As expected -retested previous low of 528 - Makes double bottom@128-129 zone - expecting bounce from the zone 128-129

Pushed upside from 528-529 to 541 - faced resistance

23rd Feb 2018
Slipped below 528-531 struggle zone - Taking reverse gear for big upside next above 531-533 zone

Got the initial push from 525 to 535 - we will still wait to see if this is the larger advance & to hold that view -it should not fall below 530-531 zone

26th Feb 2018
Awesome - Touched 548.80 high for the day as expected in 545-548 at 09:50 Hrs earlier in the day.

Above 550 - Extended to 555 as expected zone 555-557 - Looking for resistance can give us downside /move

28th Feb 2018
Last Price@531 - As expected Axis falls from 541.50 to 528 lows for the day. Holding 528-530 zone - shall be looking for a push upside 545-548 completing the triangle below 577 -double tops.

Triangle Idea failed as slipped to new lows@520's

1st March 2018
Last Price@524 -Looking higher against 520 lows for 535 - 545-548

6th March 2018
Coming back after holidays- global market had comeback bounce - as expected Axis to jump got initial move to 530-531 from 524 lows holding above 520 lows - we book partial profits & wait outside to join next above 532 or in the zone 522-524

Awesome !!! - Axis slipped from morning highs of 530-531 to 522 .50 lows - we expected zone of 522-524 as update last to join for upside push. In the long side from the day low.

Booking Partial Profit in 526-527 - went long at day's low @522-523 - Axis looks to be struggling below 530 levels so we will wait outside

15:11 Hrs 6th March 2018
Bank Nifty cracks 300 points from opening high & Nifty cracks from 10440's to 10250's - What an exit in Axis at 526-527 - Makes new low@516.30 - Looking for a push upside holding 516.50 lows - risky call with strict stops day low

--------------Story continues -- 44th Day-----------

23rd March 2018
Ending Diagonal could finish @496.80 & we look for big upside in coming days & open for target of 570-577 which should be done if the identified wedge is completed & we wait for the big excitement in coming days.

5th April 2018
SGX Nifty Up 155 points - Has the day arrived for Axis Bank from 492 lows- Accumulation Zone expected on 4th April 2018

Trade active: 09:55 Hrs 11th April 2017

Last Price@535

Falling Sharp - getting a chance to sell in 545-550 - you can look for 520-525 zone as target.
Trade active: 11:29 Hrs 11th April 2018

Last Price@540

5 points push upside from 535 as last updated - we were expecting this push to 545-550 zone - keep trailing stops if taken long / buy intraday.
Trade active: 15:25 Hrs 11th April 2018

Last Price@541

4 points shy from 545-548 zone as expected zone of interest. Unfortunately markets are closing.

Trade closed manually: 11:15 Hrs 12th April 2018

Last Price@539

Closing the Update. Enjoy

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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