AbhishekHSinghCMT
Short

Axis Bank- Let the Rising Trendline Be Broken

NSE:AXISBANK   AXIS BANK
150 views
3
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.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

2 lots of sep 580 puts brought cheaply After that it crossed 600,if close above 600 today exit or hold ?
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Why are you buying -any move above 600 is not good for bears -let me come back again to you.
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