Axis bank has been in the consolidation phase for more than 15 months. Prices fall rapidly after the crossover of 50 & 200 EMA. We can draw two control lines which can be helpful for target measurement.
If the price enters into the parallel channel , and after retracement sustains above 680, traders can trade for the following target of 692 - 714 - 752. Demand pressure can lead to the price at the upper band of the parallel channel .
Failure of sustainability above 680 may lead to a new low.
Let market earmark first before you commit to the market.
If the price enters into the parallel channel , and after retracement sustains above 680, traders can trade for the following target of 692 - 714 - 752. Demand pressure can lead to the price at the upper band of the parallel channel .
Failure of sustainability above 680 may lead to a new low.
Let market earmark first before you commit to the market.
