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


Regards
Trade active
Trade closed: target reached

Comments

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
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
agree
very true
+1 Reply
Superb call Nitesh
Regards
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar 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 Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out