(Intraday) Descending Triangle Pattern on Axis Bank1. Axis Bank has Form Descending Triangle Pattern on an Hour Chart.
2. But , there is no supply zone till the level of 465. So, It may face rejection from the Trend Line .
3. Sell below 448 Target:442 , 439 ,437,427 , 402 SL: 454
4. First time , I am sharing you the fundamental analysis of the stock here on TradeView
Pros:
A. National Wide Spread.
B. P/E is the Second Highest in the industry after HDFC Bank .
Cons:
A. In last three Years Promoter has withdrawal there 13% stack
B. PEG Ratio is -5.75 ( Really Bad)
C. Return is the lowest is the industry
D. Debt ratio is 10.5 Second highest after Yes Bank 12.5 ( Very High Debts)
E. Dividend Payout is low
F. Axis Bank Declare Loss of about 1300 Crore in the last Quarter.
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AXISBANK
AXIS Bank Results tradeOn breakout trigger buy
Any reversal at resistance trigger sell
#AxisBank RESULT OVERVIEW:
🟢 Net Income: ₹10,793 Cr (+17% ▲)
🟢 Net NPA: 1.56% (-50 bps ▼)
🔴 Net Profit: -₹1,388 Cr
🔴 CASA: 40.4% (-270 bps ▼)
🟢 Advances: ₹5,59,122 Cr (+15% ▲)
🟢 Deposits: ₹6,14,419 Cr (+17% ▲)
🟢 Balance Sheet: ₹9,15,164 Cr (+14% ▲)
🔸Overall the results look positive as the bank has mostly reported a healthy growth on most parameters.
🔸The asset quality of the bank has improved.
🔸The net loss reported is mainly due to the provisions and one-time tax adjustments.
🔸Axis Bank GDR is trading at +10% after the Q4-FY20 results.
🔸We can expect a similar move in the Indian markets tomorrow.
🔸The GDR up move indicates that the markets have received the results on a positive note.
AXISBANK KEY LEVELS SUPPORT AND RESISTANCE 20/04/2020Key Levels for AXIS BANK:
UPPER BREAKOUT~483.30
FIRST TARGET~489.30
INTERIM RESISTANCE~496.00
FINAL RESISTANCE~502.50
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LOWER BREAKOUT~474.30
FIRST TARGET~468.25
INTERIM SUPPORT~459.25
FINAL SUPPORT~446.80
Please trade with caution and consult your financial adviser before trading.