AbhishekHSinghCMT
Short

Axis Bank - Formed W- with the Target - Back 2 Back- Now Trade W

NSE:AXISBANK   AXIS BANK
531 5 10
Wish You all a Happy Gudi Padwa & Prosperous New Year to all on this auspicious time when Vikram Samvat 2074 begins.

Bang On for the target!- Isn't that amazing that we formed W- shape with targets achieved - What Next- Trade W Harmonic Pattern .

If it sustains below 505 or with strict stops slightly above 505 -we can look for 483-484 Back again in the support zone- mini double bottom support from previous update.

Trading Strategy
Scenario-Risky - If you can afford to lose 5- 7 points, then trade between 498-502 with strict stops of 505+

Targets shall be 483-484 going into mini bottom.

You would be interested to know -How we formed W- shape with targets- Need patience to read all the previous 3 updates

Magical Polarity Level@500


Resignation letter rumors gave the push@502


Hatrick What Next?



Trade closed manually: 09:23 Hrs 30th March2017

Last Price@498

Bad Luck Mr. Satish as mentioned in the comment
downside

It was gap down & 497 -499 zone has been kissed.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
@AbhishekHSinghCMT. Can this short be initiated tomorrow ? No positive news from Kotak also.
Reply
@SatishBoda, I will have to check as the structure was invalidated.
Reply
@SatishBoda, Keeping below 506-507 -if you get the bounce could be taken as selling opportunity for target 497-499 zone - keep in mind of strict stops above 507 for targets 497-499 & later looking for support -if holds in that zone then can be seen as buying.
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SatishBoda AbhishekHSinghCMT
Reply
If it goes to 483/484 then
Can it called triple bottom ???
Reply
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