vanathi
Long

Axis bank - Ready to break the resistance!

NSE:AXISBANK   AXIS BANK
350 views
11
350 10
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.

Related Ideas

vedanta has crossed resistance for next up-move ?? or still face resistance
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vanathi dandy235
@dandy235, My targets for vedanta reached!
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yes it is in the rrange betweem 495 to 524,
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vanathi nalinakshi
@nalinakshi, Once it breaks the resistance, range the movement will be fast towards upside. Thank you for the comment...
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Must say... u are like Ashwini Gujral. One day short and next day long or vice versa. 😂
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vanathi ChintaX
@ChintaX, What to do, one day price moves down and I am saying short. Next day price moves up and I am saying long. Please note my previous post about axis hit all targets. I am taking your comment as a compliment as I am a fan of Aswani though I never follow his recommendations. I believe we should follow our own trading plan even though we read/hear other's analysis.
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shiv2798 vanathi
@vanathi, you are exactly right
One should follow his or her own decisions
Also your views in relation with price movements is correct , you should be always surfing not dip in the ocean
You also don't need to compare with anyone because ocean is so large no one doesn't know anyone
Cheers
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vanathi shiv2798
@shiv2798, Yes we should take responsibility for our trades. Then only we can improve. Thank you for sharing your view...
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tumpa.slg7 vanathi
@vanathi, well said mam, dats what every trader should do make der own trading plan
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vanathi tumpa.slg7
@tumpa.slg7, If we follow other's trade without using our trading plan, we cant correct our errors. Thank you for sharing your view...
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