Axis Bank was trading in a rising trend channel. The stock moved within the channel and got rejected within the similar range at around 820 forming a double top.
The stock first broke through the rising trend channel support at around 770 and followed it up with a retracement to the support line. The stock then broke below the double top neckline at 760. The...
Several indicator suggested that Axis momentum will be slowed down and trade in range of 720 -760 Range for expiry 28/03/2019.. You can short once it is below 753 for target up to 724/ stop loss at 756..Alternatively you can sell 720 pe as well as 800ce..MACD show slowed down diversion compared with price uptrend...Brokerage houses give calls for 800/ as...
