Axis bank had a good consolidation for the past one and half month and it broke out of the zone with a strong bearish sign .
This break down can help in the descending wedge channel that is being formed from 960 levels .
Once the channel is completed , we can get a more view on which side the stock is heading towards with the additional pattern of flag and pole...
Good to keep on the radar
Always respect SL & position sizing
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According to me, any dip in Axis Bank should be treated as an accumulation opportunity. Axis Bank looks very strong on the charts. It gave a multi-year breakout and with banking shares declaring solid numbers across the board, one should try to bet on good banks in the market. SL is still marked for those who want to trade, I am buying for investment.
Stock has witnessed selling pressure from the previous swing resistance on the daily chart and formed a Bearish reversal candlestick pattern which is know as Three Black Crows. Prices have also broken the rising trend line established from Jun'22 low of INR 618.25 which suggest that prices may face more weakness in the coming days.Hence any retracement from the...
Axis Bank Swing trade Buy Nifty 50 : Educational Idea Only Not a Buy Sell Advice Follow for more learning price action analysis
Pattern : Ascending Pattern
Green Rectangle is Major Support
Entry Confirm After
RSI Divergence Cross Dotted Middle Line 0
Reason : on Big Time is in Uptrend
Reason 2 Fib. Confirmation
Tgt 1 is 949-957
tgt 2 976-980
Axisbank has made inverted hammer candle on weekly Time frame which is a bearish sign for me. Now I will be planning to initiate shorts trades in 2 ways
1) Once price goes below 930, will go short targets will be a) 922 b) 908 c) 900 Sl would be 944
2) Price retraces to 949/960, shows signs of weakness and then I will initiate short. This will be the best case...
Axis Bank is the 3rd largest private sector bank in India. It is the 4th largest issuer of credit cards and the 2nd largest merchant-acquiring bank in India with an installed capacity of 10 lacs+ terminals, acquiring an incremental market share of 30% in FY22. Axis Bank gave a very strong breakout on multiple time frames. I believe the rally has just started. This...
AxisBank after giving a super momentum on upside is currently seems to be forming ending diagonal in its wave 5 as per my understanding, which is a rising wedge structure and breakdown of it can give a good correction.
Longs need to be careful here ...
AXISBANK:- Rounding bottom pattern has been formed, if it gives breakout and sustains above resistance, then we can consider buying, otherwise ignore. keep in radar.
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until...
The FASP for Bandhan is listed for 29-12-2022. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels...