AbhishekHSinghCMT

Axis Bank- Letter got leaked about MD &CEO Resignation-502 Hit

Short
NSE:AXISBANK   AXIS BANK
474 views
9
News appearing in section of social media stating impending resignation of MD & CEO of bank, is false, speculative Source text: bit.ly/2nQoJI8
Reuters


Amazing the letter got leaked - you must be thinking, but no let me tell you it was an impulsive move starting from 525 highs & I traded wave-iv -sharp jump above 490 for 502.

Bang On Target as expected in last night update@19:35 Hrs in the below post - click the charts Axis jumped even in the falling markets this morning clearing the myth that all of them never throw their towel together & run away -some take time to realize.

Trading Strategy

Best Scenario- Selling in the zone 500-505 with recent day high as stop from previous update.
Risky Traders could have sold near to 500-502 once it started falling.

Current Scenario- Look for a short term bounce close to 502 high & starts falling below current low which could be 4943.25 or less as the confirmation for selling -if it bounces.




Trade closed: target reached: 17:52 23rd March2017

Last Price@487

Day low@483

Good Evening Guys - Selling from 500-502 made a low of 483 - a low below previous low zone 486-489 has satisfied what was expected.
Trade closed: target reached: 12:31 Hrs 28th March2017

Bounce@502- Exact

Target achieved at 502 - bounce as I got the leaked letter in hand before market - Just Kidding Guys!
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
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Comments

@AbhishekHSinghCMT, that was a nice call. Thumbs Up! Great Jod! Secondly, to my opinion, it looks like the wave iii (circled) is still in the continuation and wave 3 and 4 might just have got completed, whereby you are suggesting as wave iii (circled) and iv(circled). I might be wrong as well, but internal wave counts on 15 minute or lower time bar chart suggests so. Please, correct me if I am wrong. At last, great work, keep it up! Regards, Sapan.
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