AXIS BANK LTDShort
#Axisbank short below 930, F&O traders can get 2.75% gains
Updated
Axisbank has made inverted hammer candle on weekly Time frame which is a bearish sign for me. Now I will be planning to initiate shorts trades in 2 ways
1) Once price goes below 930, will go short targets will be a) 922 b) 908 c) 900 Sl would be 944
2) Price retraces to 949/960, shows signs of weakness and then I will initiate short. This will be the best case scenario with low risk and high reward setup. In this case my targets will be a) 930 b) 915 c) 908 d) 900 SL would be around 968.
Let's be a disciplined trader and respect risk.
1) Once price goes below 930, will go short targets will be a) 922 b) 908 c) 900 Sl would be 944
2) Price retraces to 949/960, shows signs of weakness and then I will initiate short. This will be the best case scenario with low risk and high reward setup. In this case my targets will be a) 930 b) 915 c) 908 d) 900 SL would be around 968.
Let's be a disciplined trader and respect risk.
Trade active
Trade initiated at 960, SL is at 963.Let's see if this goes in my favourTrade active
I have booked 1 lot at 946, now price should not sustain above 958 else I need to book out.Trade active
second time price has taken support at 943 level which is a cause of concern for me. Have booked 75% position at 948, for remaining qty am at cost its risk free trade. But the moment it will sustain above 958 will exit full.Trade closed: target reached
have booked remaining qty at 927, trade over from my side. If anyone waiting for 908 & 900 then trail SL tightly as tweezer bottom in BNF is not conducive for shorts trades now. Happy trading
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