Axis Bank going according to my previous analysis which target hit on friday, now the next target which Axis Bank is heading around 429 and next 400 in near term. Axis bank has been trading in downtrend channel and already has reversed touching the bearish channel resistance and approaching the support. next week will be deciding for axis bank if market remain...
Axis Bank after braking up trend has been trading in a volatile manner, steep fall, gap down as we see on chart, it is still trading in the same fashion and due to bank nifty impact it also recovered today and tomorrow it may test the channel resistance 488-490 and again it is not looking strong enough to make breakout upward. It may reverse after touching the...
Dear Traders,
Descending Triangle formation on 15mins chart in Axis Bank. Most probably to break the bottom of triangle and 50 EMA staying above the price. It seems bearish.
Sell below 494
Target 488
Points Gain - 6
How many of you believe traditional patterns like H&S or iH&S wont work? Lets see how Axisbank plays out on Inverted Head & Shoulder.
* Retest of Inverted Head & Shoulder
* Trendline Breakout
Axis Bank has completed a clean 5 waves down and was among the few stocks that did not close in the red today despite the Nifty going down by 100 points. Feel that a corrective bounce is due now in the range of 508-533. Any comments
How is your saturday going ?! Hope the weekend starting off on Good Note. Today morning I was looking for some stocks to accumulate on medium term (4-7 months). AxisBank was one of them which I kept in radar for past 3 months. Though I'm not sharing about all the stocks in My Portfolio, now its time to post it out for you guys as I did LT a year back, we caught Lt...
It is been observed that the price action is been forming flag patterns on daily chart, and successfully breaking out from them and reaching to measured moves targets. It is wonderful to see how nicely it respects breakout. In current scenerio, 514 shall act as crucial support. The price action shall move below and close below 514 levels to further go down....
Keeping it very simple for a long time axis held on to a very important support i.e 519.. As they say for chart reading go from left to right. Now Axis faces resistance @ 534 its 11 day EMA if axis opens and stays above it Axis will hit 548 which is its next major resistance i.e its 23 day EMA. Stoploss for this upmove is 525. Best of luck!
The price action shall come further down to 536 levels which is a 38.2 percent retracement level where a bounce in price action may be seen. If it does not retrace back at 38.2 levels then .50 levels can be seen at 500 price levels due to strong selling pressure.
Key Takeaways:
1. Price action breaks out from the upward trendline, indicates change in trend.
2....
Till Nifty opens we have time, so lets check some stocks also....Simpler the Better. If things are simple easier to understand & much easier to follow the plan with discipline, as there is no violation of plan, winners increase. In AxisBank we have couple of trendlines and both cross their path around support zone, so higher chances of price reversal in the...
The Price action has been trending up, starting up from 372 levels and now approaching to 600-610 levels. Today's breakout from 575 confirmed uptrend. Now we will be reaching previous resistance level of 600-610.
Expected Target1: 600 Sl: 569
