AXIS BANK - Will we see a rebound ?

Axis Bank has completed a clean 5 waves down and was among the few stocks that did not close in the red today despite the Nifty going down by 100 points. Feel that a corrective bounce is due now in the range of 508-533. Any comments
Comment: Still looking good with a positive close in a bearish market
Trade active: The upward move still holds good for now...
Trade closed: target reached: 1st Target for rebound was reached and trade closed manually at 510.


what next ?
ShanTrader anupminj7
@anupminj7, With the Nifty having taken out a crucial support at 8000 today, the market seems to be inclined to move downwards. As Axisbank was moving downwards too in an impulse it has completed its correction and may join the down trend towards 420 and can go as far as 360 if the Nifty also moves down deeper.
Seems as if Shan is ready for the Bull Run... All the Best Boss !
ShanTrader InsiderB
Thanks InsiderB - more of a bear correction :-) ... if it does turn around, the move would be consistent with a reversal in the Nifty. Bulls are also welcome as I hold this stock for long term too !!!
InsiderB ShanTrader
We will retest the lows once again, so that will emerge as decider whether it breaks recent lows or moves up ! Yeah, Shan I'm also looking to acquire Axis for longterm bcos I hope Axis will be around 800's by Apr'17 ( Pure Guesstimation )
ShanTrader InsiderB
@InsiderB, must say it did retest the lows. Should move back up above 500 soon.
+1 Reply
Looks clean and good to go. All the best.
Thanks Nirav !! Appreciate your feedback.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out