nextgen

Axis Bank has little scope for buying

Long
NSE:AXISBANK   AXIS BANK
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Axis Bank after braking up trend has been trading in a volatile manner, steep fall, gap down as we see on chart, it is still trading in the same fashion and due to bank nifty impact it also recovered today and tomorrow it may test the channel resistance 488-490 and again it is not looking strong enough to make breakout upward. It may reverse after touching the resistance to its channel support again. positional traders may go short at 488-490 with a target of 458 or if breaks this level next may be some where between 430-425.
Trade active: Stay long till target