Axis Bank - Tough times ahead
Recently stock managed to breach the yearly low of around 994 and went downhill upto 933
We saw some buying from the same areas as it had monthly n weekly demand zones
With that stock managed to pull itself back to 1k+ levels
But it seems struggling days are not yet over for axis
As we can clearly see, stock has got multiple and strong resistance point on daily time frame
1st starts immediately as a gap resistance zone between 1015 to 1030
2nd area at 1035 to 45
3rd at 1050 to 60
4th at 1085 to 95
5th from 1105 to 1120
Stock may or will try to reverse from these points in coming days
Alerts can be set accordingly
Lower TF confirmation is a must before entering
R:R on each level is excellent
We saw some buying from the same areas as it had monthly n weekly demand zones
With that stock managed to pull itself back to 1k+ levels
But it seems struggling days are not yet over for axis
As we can clearly see, stock has got multiple and strong resistance point on daily time frame
1st starts immediately as a gap resistance zone between 1015 to 1030
2nd area at 1035 to 45
3rd at 1050 to 60
4th at 1085 to 95
5th from 1105 to 1120
Stock may or will try to reverse from these points in coming days
Alerts can be set accordingly
Lower TF confirmation is a must before entering
R:R on each level is excellent
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