praveen.gupta

Axis Bank Short @ Rs. 610 +

Short
NSE:AXISBANK   AXIS BANK
NSE:AXISBANK
Entry 610 +
Target 585 , then 545
SL 632

Stock is trading at 615 and near to supply zone , Bank Nifty is also near to supply zone , both have strong correlation, on the options Call of 600,610,620 are sold heavily , puts are less sold on ATM. Divergence is also observed on RSI chart.

Disclaimer: author may enter in trade, take your own decision , This is an trading idea not an trading or Investment advice.

Trade closed: stop reached: SL Hit, close position