The level which plays dual role of resistance & support or vice-versa.
Awesome - Axis Bank cracks down below 500 as expected- Half way through - half is left.
We will book profit here & shall wait for tomorrow's market to see next action.
There was an opening gap & global markets are positive as if now. If we get positive clues from global markets in overnight session likely Axis bank can attempt to fill the gap close to 500 which was evident today.
In tomorrow's session if it holds above 487-490 then push can be expected to 498-502 zone next or next fall starts below 486 lows as of 21st March2017. We booked profits from selling below 500 to 489 as prices were rejected from 486-489 zone & was not allowed to go further down.
Magical Polarity Level@500 - revealing its magic
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ