Hi traders,
In morning one of my followers who is long in axis bank and new trader , asked about my view. That time i replied on basis of bnf chart rather than axis bank. So I was worried for his capital ,therefore , spend hrs to analyze this chat for you and all who are trading long or going to invest in this bank. Please see carefully.

1. In this fig a red channel is seen where price is travelling now. In few days this channel is expected to break down side . As the last leg of selling has started that can take it to first target. May be in this journey price will try to take support at lower end of channel ultimately will travel to that destination in red color support.
2. In any case this gets break then last target of white support. I do not know at what price you are long . My last target is 230 . In near 2 to 3 months it will consolidate between 320 to 260. So decide yourself selling at existing price is good in your case or wait for next 6 to 7 months to recover your price.
3, For investors 240 to 270 level is good for investment for in 12 months can go to 500. This is my analysis before investing take advice from your financial planner . I may be wrong what I am reading now shared with you. That is why now in sell mode. Rest price will decide.



But the channel gave a breakdown instead of breakout!
yvatsji ProTraderJeeni
@ProTraderJeeni, pl see the current post your seeing two week back post.
@yvatsji Sir, i am having positional short in Axis bank at 402. Shall i exit or wait as BNF change to upward trend.
yvatsji wadhwaamit4
@wadhwaamit4, that I will update in axis bank post today.
@yvatsji , Sir as BNF did rallied today and Axis bank was leader. Do you see change in trend for this stock as it breach red Channel or still this analysis holds true. Although breach does not mean change of trend. Share your thoughts with respect to educational front as i am reading book and analyzing the post shared by you in the past. Thanks
Rohaningle wadhwaamit4
@wadhwaamit4, @yvatsji CMP 400 Sir, I have the same query, can we expect the green channel as next resistance level now? if the red channel is taken out. I held this and bought at 470
yvatsji Rohaningle
@Rohaningle, This the last time i am answering this .have you gone mad whu did you buy at resistance. i am not here to spoon feed . Exit now.
Rohaningle yvatsji
@yvatsji, Exited. Thank you! I won't give a reason but I was just entrant at that time.
@yvatsji,Sir , i kind a disagree , either you buy a stock when. it take support on channel or and when it breaks resistance .. From a very intraday perspective .. for 5-10 points and for a trader that is more than enough . Please correct if am wrong
yvatsji pannkajrchopra
@pannkajrchopra, See that is the question related to timing the trade . It is always not essential to buy a stock on support sometimes with the ormation of strycture one should buy when resistance is breached. That totally dependa upon structure of price. 5 to ten points trades are done by scalpers even. Intaday trader is not a scalper.
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