Axis bank is having resistance at 520-522 level. For the past few days price action is trying to break it. Close above the resistance will make the price to reach the targets 530, 536, 540 and 548. Stoploss is 520. Tuesday's market opening will break the resistance and this script will be move upside. Always follow your trading plan.
Trade active:
@ 521 on 3/14/17
Trade closed: stop reached:
Trading plan done in previous day wont work sometimes. As per the analysis close above the resistance was buy. Price action of first 15 mins had long upper wick with high volume showing price was rejected(bearish view). Inside bar formed after some time. When the low of the mother bar(522.45) was broken and price started to fall.
When the stop got hit, it sell was confirmed. Till now price is falling. When the price action was not moving as per expectation, have to trade as per the direction it shows.
When the stop got hit, it sell was confirmed. Till now price is falling. When the price action was not moving as per expectation, have to trade as per the direction it shows.
