AXISBANK
High Probability Trade 💵Logic and levels well explained in the chart. (Ghost feed used for future projection
Note-This is my personal view,
Please do comment if you like my Analysis or you have any suggestion for me. Thx :)
(Intraday) Ascending Triangle Breakout @ AxisBank
1. Ascending Triangle Breakout Happened on 30M Chart of Axis Bank.
2. Buy above 716 Target : 724 , 728 SL: 710
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Axisbank in a good risk reward setupAxisbank taking support at the lower end of the channel. Last time channel breakout on the upper side failed. Now it is taking support at the lower end of the channel with a long stick. Planning to take trade on upside with SL @ 695 (or lower end of channel for safe traders) for a first target of 775 to 800.
Triangle breakout ... setupAxis bank after quiet in consolidation gives an impulsive move ..but still not that strong for long.
Keep this on watch if it shows further moment can trade as per setups.
Risk management is the key.
Never fear Never greed.
IDFCFIRST BANK POSITIONAL TRADE ANALYSISIDFCFIRST BANK BUY ABOVE 58 SL 55 TARGET 61-64-69, CAN ALSO BUY APRIL 60CE/62CE
AXIS BANKExpecting to accumulate before breaking EMA band before heading higher
Break should be with High volume with low volume pullback
Axis Bank - Descending triangle after run up - Buy @726Buy axis bank at the bottom of the pattern for small sl and big target. There is very less chance that this stock will fall below the pattern support. Banks are looking strong after this correction and as infra projects will be starting so more lendering is expected. Therefore no sign of bearness in this stock.
Target 824
Sl 700
Axis Bank - Monday TradeStock bounced from support zone on Friday. Buy above 730 for long tomorrow. However if it breaks support zone then good to short for both Intra and Swing till 695/690 (Intraday) and 660 (Swing)
Axis BankAxis Bank (NSE Cash)
Daily Charts (Medium to Long Term)
The candles have broken the trendline on 16th March 21.
RSI too broke the 50 level but I wouldn't panic as yet because the RSI is showing a reversal. This means that Axis Bank may have corrected itself but it isn't weak on daily charts.
There has been a lot of selling as well so we might see a bounce back when the short positions are being squared off in this week.
Hourly Charts (Medium to Short Term)
A very strong support is seen at 708 levels and the resistance is at 754 and 764 levels. Keeping the daily chart study in mind, we may see a strong rally upwards.
An hourly downtrend has been broken on Friday as well which increases my confidence that we might see a strong up-move soon.
Also, there is a bull indicator in my RSI (divergence) which again is a good sign that this week may prove to be very good for Axis Bank.
Axis Bank - Tuesday TradeStock bounced form its support none today and can touch targets of 760, 770 if sustains uptrend however if breaks support zone then will fall sharply. Safe to short below 712 only
Axis Bank Trading near Lower Trendline - Wait for Short entry! All important Levels mentioned on chart. Looks good for shorting below 40 levels.
AXIS BANK TRIANGLE PATTERNAXIS BANK BREAK DOWN IS HIGHLY POSSIBLE IF IT CROSSES 720 ON DOWN SIDE.
TRIANGLE PATTERN SUGGEST DOWN SIDE IS POSSIBLE.
