AbhishekHSinghCMT

Axisbank- Sideways in Triangle

NSE:AXISBANK   AXIS BANK
6
Likely Axis Bank too is giving an impression of a triangle in current wave sequence. Let us see whether Axis Bank gets support above 513-which is key level & recent swing low.

Trading Strategy 1

513 -key level as short term support - we could see a bounce in the zone 530-535 zone.

Trading Strategy 2

Once it goes close to 535-540's zone - Keeping 545 as key resistance level- we want to be in the bearish camp.

Regards,
Abhishek H. Singh, CMT


Earlier Reports

Close below 540 can trouble
Trade active: 09:50 Hrs 24th Oct2016

Trading@522

Session Low@518

Small fall as expected looks like done so let us see whether we get the bounce as expected earlier.
Trade active: 08:57 Hrs 25th Oct2016

There is small mini top@526 - Going Above that it is likely to move up & we shall target 535-540 zone but not above 545 mark.


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

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