Akhil008
Long

AXIS BANK | BREAK OUT

NSE:AXISBANK   AXIS BANK
Axis Bank has come out of a very long consolidation range. Looks like a good buy. 543 can be a temporary block for the up move resulting in a small pull back, but I don't expect it to hold on strongly. 530 looks like a good entry point with stop loss just below 480 or below the rising trendline .
Alternatively, you may opt to enter from current level by averaging as it goes down to 520-530 level and from there I could only see a good uptrend. Price could reach 570 and it can extend to 600 and even 635. I would prefer to buy in cash.
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