Axis Bank - Flag Pattern Breakouts

It is been observed that the price action is been forming flag patterns on daily chart , and successfully breaking out from them and reaching to measured moves targets. It is wonderful to see how nicely it respects breakout. In current scenerio, 514 shall act as crucial support. The price action shall move below and close below 514 levels to further go down.

Target: 494
Stoploss: 550
Trade active: Entire 2.5% initial move up in the morning observed by markets, now it shall start moving down to targets. Sellers in control. Regards
Trade closed: target reached: Target Reached Successfully :)
Trade active: Price action breaks and closes below crucial support levels of 478, now shall reach to 465 levels.


Neetesh Ji - Wishing you a Happy New Year. At your convenience can you please update probable direction and targets for AxisBank.
+1 Reply
NeeteshJain ShanTrader
Here is the update on Axis Bank on your request,

It breaks and closes below crucial support levels of 478, now shall move further down to 465 levels.

Wish you a very happy and prosperous New Year too. Regards
ShanTrader NeeteshJain
Really appreciate it. For long term investors, it a good stock to hold and price is getting attractive.
Wow. Must be a great feeling to get one more forecast bang on target !!!!
+1 Reply
NeeteshJain ShanTrader
Yes, I believe it comes with continuous practice and learnings. I appreciate your follow up on it. Regards
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