NIFTY BANK : CONSTITUENT PARTICIPATION, A FUTURISTIC PEEP INA comparative study of Nifty Bank along with its top 5 constituents revealing possible futuristic participation of all major participants, role change, weight change, possible growth scenarios and much more intriguing trend compositions
Constituents included in the study
1. Nifty Bank
2. SBIN
3. ICICI BANK
4. AXIS BANK
5. HDFC BANK
6. KOTAK BANK
EVERY CHART HAS ITS SAY !!
AXISBANK
AXISBANK provides an attractive entry for Long positionAXISBANK has been staying above 800 for the last couple of days closings. The strength in BankNifty also suggests that banks may have a quick burst upwards. The risk reward supports a Long entry for the short term around 805. Targets would be 840, 860 and 900. Stop Loss would be any closing below 785 on daily basis.
Disclaimer - I have a position open on AXISBANK.
** Important Note - This post is my own study of the mentioned scrip and the views are given with reservation that they may prove to be wrong. I am not a SEBI registered analyst. Please consult your investment advisor before making financial investments.
Simple Trade Setup | AXIS BANK | 29-09-2021 [INTRADAY]NSE:AXISBANK
Observations:
1) On Daily Time Frame, we can see that it is still getting support from the parallel channel.
Today it got support from the middle line of parallel channel.
Please refer below chart : Daily Time Frame.
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Trade Setup for Date 29-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
Levels for - 24 Sep 2021EXPLANATION : This is a 15 min time frame chart of AXISBANK , It has formed Inverted Cup & Handle pattern // Swing Pattern . If give a strong breakdown and broke its demand zone with high volumes and retest the same , I am bearish on AXISBANK . Super setup in AXISBANK Fixed range volume profile // Inverted cup & handle pattern // Swing pattern // Supertrend strategy
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#AXIS bank .potential breakout candidate on watchlistAXIS bank shows a potential breakout from a previous 2 year old resistance zone. Looks like it is forming
inverse Head and should pattern on weekly timeframes with neckline same as the resistance zone with potential to break out upside
If it worked out.Momentum and Trend indicators are showing bullishness on all timeframes now.Enter only on confirmation
of breakout with a green candle close above and tight stop loss below entry candle.