AXISBANK
Axisbank is in an important level zone Axis bank is in an important level zone'
Take advantage of this level.
Disclaimer:- Just for educational purpose only
AXIS BANK | TRADING IN A CHANNELAxis Bank at perfect place! Don't Miss!
If it breaks the channel & started trading downside then there will be a good shorting opportunity...
If market remain bullish on Monday then one can make a Long position at this place with very small SL
Chart of the Week (16/01/2021): Axis BankAxis Bank looks like a good buy candidate as it has given good breakouts on all trendlines. Even a downward sloping resistance line has now been cut and should act as a support. Another rationale is that other banks (ICICI Bank, Kotak Bank, HDFC Bank) have run up and are at 52-week high/ATH. Maintain Stop Loss at Rs.640 and targets at Rs.765 and then at Rs.820 (ATH). The one negative thing on this chart is the Negative RSI Divergence, but divergences can act only as confirmation/support and should never be a rationale for trading. Hence one needs to be cautious.
Axis Bank - 680 / 688 by 15th JanAxis Bank is at a resistance level of 680. If it crossed 680, it will reach 688.
Near to weekly trend lineNSE:AXISBANK after consolidation of more than one month it has given a break out and now near to weekly trend line. If breaks upward and sustain then more upside.
Positional View for Axis bank for 08 JAN 2020Guys i am posting daily views for all Nifty50 stock in a similar manner . See the related idea for the link
AXISBANK
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Current Position is Buy, bought on 07-JAN-2021 at 661.15
Action for Next Trading Day: Continue LONG and reverse to SHORT if AXISBANK closes below 659.37
Performance since 28 OCT 2020
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Rs 237.34 Profit per share with 10 Winning Trades and 3 loss Trades.76.92% Success Trades
Last 5 trade performace
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Action/From date/to Date/Profit(loss) Rs per share
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Sell 10-DEC-2020 to 22-DEC-2020 38.84
Buy 22-DEC-2020 to 30-DEC-2020 38.41
Sell 30-DEC-2020 to 05-JAN-2021 -5.46
Buy 05-JAN-2021 to 06-JAN-2021 25.13
Sell 06-JAN-2021 to 07-JAN-2021 -6.48
AXIS BANK IS IN BULLISH MODE ?Just drew some Support & Resistance Lines on AXIS BANK chart, Will Axis go up from here ? 20 more days for Results! If it sustains the support levels at 650, it may touch 707 and then 735.
Just sharing my Ideas, feel free to discuss/correct :)
Box Breakout in BANKNIFTYBANKNIFTY finally broke the upper resistance of the box that was there for a while. Good time to go long. It may retrace to the upper level of the box before going any further so be aware of the same since doji has formed. Keep this in mind and keep looking at price action.
Now, upper targets are open for the week:
Target 1: 32140
Target 2: 32460
Axis Bank and ICICI Bank have finally become strong. They can be bought for medium to long term as well. Kotak and HDFC seem weak.
Note: Post only for education purposes.
