Axis Bank- Very good structure- Ideal for positional trading
Banknifty as a sector is not performing, but i have a feeling that it will turn around.
Axis bank is in a very good structure and is poised for a good growth in the 3-4 months. I say it becuase of the following reasons.
1) Bank Nifty will start performing and it's only a matter of time.
2) Axis Bank is in a very good structure and is heading close to 765 Which is going to be stiff resistance as its highest that it made in Dec 2019. Once it crosses that resitance, then there will be a good uptrend.
3) Axis Bank is consolidating and is clearly evident from the low volumes.
4) it has currently taken support at weekly CPR and at POC for the last 2 months.
5) I am super bullish about the stock and have a feeling that it will cross 1000 levels in the next 3-4 months.
Please note that I am a charting student and have limited experience trading. The above is only for educational and learning purposes and also for my seniors to comment.
Axis bank is in a very good structure and is poised for a good growth in the 3-4 months. I say it becuase of the following reasons.
1) Bank Nifty will start performing and it's only a matter of time.
2) Axis Bank is in a very good structure and is heading close to 765 Which is going to be stiff resistance as its highest that it made in Dec 2019. Once it crosses that resitance, then there will be a good uptrend.
3) Axis Bank is consolidating and is clearly evident from the low volumes.
4) it has currently taken support at weekly CPR and at POC for the last 2 months.
5) I am super bullish about the stock and have a feeling that it will cross 1000 levels in the next 3-4 months.
Please note that I am a charting student and have limited experience trading. The above is only for educational and learning purposes and also for my seniors to comment.