NeeteshJain
Long

Axis Bank - Bullish Inverse Head N Shoulder

BSE:AXISBANK   AXIS BANK LTD
It is been observed on the Daily Chart that the price action forming an inverse bullish Head-N-Shoulder pattern indicating a bullish move ahead. It shall perform well once the price action breaks above 500 levels to confirm a breakout of the pattern trendline .

Target: 520

Stoploss: 474

*Kindly note that the trade shall be active once the price action breaks above the 500 levels.

Regards
Feb 16
Trade active
Feb 20
Comment: Waiting for price action to break and close above 500 levels for further confirmation to initiate the trade. Regards
Feb 21
Trade active
Feb 21
Comment: Breakout of Neckline of Inverse Head N Shoulder


Regards
Feb 21
Trade active
Feb 21
Trade closed: target reached
Superb call Nitesh
Regards
Reply
Neeteshji, Axis gap filling 520 target looks perfect which will take bank nifty to new high as it's smartly operated. I think that will be the point of bank nifty reversal.....watching the game.
+1 Reply
@theeye, Well observed, keep it up. Regards
Reply
Hi Neetesh, target should be equivalent to length from head to neckline which is approx 75 points, isn't?
so target should be around 575?
+2 Reply
NeeteshJain akshay.lakhina
@akshay.lakhina, Yes, it shall move further up as per the measurement of the neckline to head. I believe it shall reach to 550 levels. Regards
Reply
agree
very true
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out