Axis Bank- Let the Rising Trendline Be Broken

Simplest Trade I will take & always prefer is when a trendline gets broken which is solid trendline

How do you know its a solid trendline

Any trendline is good if connected with 2 points, but it becomes valid & solid, at least if it has three (3) points on a trendline.

So, if it gets broken under the swing low@588 & eventually the box will also start leaking -I will take short

Trading Strategy-1 - Wait for the trendline & swing low@588 to be broken likely we get a target zone 583-584

Trading Strategy-2- Let AB- Bounce in the zone 587.50-589 with strict stoploss above 600- we can go short.

Regards,
Abhishek H. Singh, CMT

Trade active:

10:23 Hrs-IST- 14th Sep2016

This 600 Mark High as of today looks like a strong upside mark for the day.

Trade active:

12:45 Hrs-IST-14th Sep2016

We lost 1 to 1.5 points here with strict stop above 600- Shall wait for down move & once 588 is broken-that will give confidence that Axis Bank wants to move down.