Axis bank currently trading in the bottom of Rising Channel, Which is the possible termination point of wave 4. If Wave 4 holds around ₹1,050–1,080, then possible Target on upside (wave 5) will be arround 1350 & 1450 ( As per Fibonacci Extension)with a stoploss of 1010Rs.
Wave count
Wave 1: Started in 2020, ended Oct 2021.
Wave 2: Corrective pullback into 2022.
Wave 3: Strong impulsive rally start July 2022 & ended in July 2024.
Wave 4: Current correction in 2024–2025, touching the lower boundary of channel.
If valid, Wave 5 is pending, Which will move the stock in 1350 to 1450 Range
It's not a buy or sell recommendation ...For education only
Wave count
Wave 1: Started in 2020, ended Oct 2021.
Wave 2: Corrective pullback into 2022.
Wave 3: Strong impulsive rally start July 2022 & ended in July 2024.
Wave 4: Current correction in 2024–2025, touching the lower boundary of channel.
If valid, Wave 5 is pending, Which will move the stock in 1350 to 1450 Range
It's not a buy or sell recommendation ...For education only
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.