Axis Bank Long @ Rs. 715 Long

AXIS BANKNSE

Description

⋅ Nov 16, 2019 8:09 AM

NSE:AXISBANK

Axis Bank Long @ Rs. 715

Entry 716
Target 742.3
SL 706.85

Axis Bank is currently trading at 1 hr demand zone which is also supported by daily and weekly demand zone.
So probability is very high for the price to go high. one can purchase for target of Rs 742.3 with in one trading week.

Trade active

⋅ Nov 18, 2019 8:29 AM

Entry Price Trigged.

Trade closed: target reached

⋅ Nov 19, 2019 8:41 AM

Target Price Reached in two trading session.

Supply and Demand

Comments

tradepundit

⋅ Nov 19, 2019 12:41 PM

Good one sir. mine hit Stop loss :)

tradepundit

⋅ Nov 16, 2019 10:58 AM

I see a supply zone at 722 which the price tested on 15th nov can you check that

praveen.gupta

⋅ Nov 16, 2019 1:14 PM

@tradepundit,

Hi
Good to see your comments , It will improve knowledge of both, I am focused on Demand and Supply
concepts and at present graph is showing following DZ and SZ

Supply Zone
15 M SZ at 719.45 to 723.35 , as you written

Demand Zone
1 hr DZ 707.35 to 711.50 , tested and price bounced back
Daily DZ at 694.55 to 708.90
Weekly DZ at 694 to 711.7

I Analyzed complete scene like this , 15 Minute SZ is being opposed by Hourly , Daily DZ , Weekly DZ which has more relatively power
and expected to violate 15 Min SZ. Or In other words Price is moving higher after testing Daily DZ on Nov 13. Overall price is showing impulsive move.

I appreciate your efforts to study and comment.

tradepundit

⋅ Nov 16, 2019 2:08 PM

@Praveen.gupta, thanks for the repl Sir,

I have been following your charts since some time and find them very educational, I cant post pics here so I have published it in my ideas please have a look