AXISBANK - POWEFULL SUPPORT - TRENDLINE TESTED MULTIPLE TIMES
Axis bank has been in a downtrend for 3 weeks mainly due to the RESULTS it announced on 21 July.
The level it is now had been tested multiple times. So it can be expected to MOVE UPWARDS.
But keep in mind the possibilty it has to further move down. So please wait and watch till it indicates a clear up trend.
An important point to look is bank nifty. Nifty has moved quit a bit after and the fall due to the pandemic. But banknifty, yet to come up.
So an indication by banknifty can also be an entry trigger for axis bank as well other banks like ICICI BANK.
Beware : Please keep in mind and stay away from False Movements
Also this is not any recommendation, This is only for educational purpose.
Trade at your own risk.
The level it is now had been tested multiple times. So it can be expected to MOVE UPWARDS.
But keep in mind the possibilty it has to further move down. So please wait and watch till it indicates a clear up trend.
An important point to look is bank nifty. Nifty has moved quit a bit after and the fall due to the pandemic. But banknifty, yet to come up.
So an indication by banknifty can also be an entry trigger for axis bank as well other banks like ICICI BANK.
Beware : Please keep in mind and stay away from False Movements
Also this is not any recommendation, This is only for educational purpose.
Trade at your own risk.
Comment:
Also This is an NR7 Candidate. So buy at breakout