I found this stock a week ago. I found a good Inverse head & shoulder and triangle breakout in the Axis Bank stock. Actually, the risk-reward ratio is very good in this stock. So, I took entry in this stock. I found that two patterns in the daily timeframe. So, you guys can also check it. Thank you!
1) On Daily Time frame it had formed rounding bottom and breakout it. It was breakout on 9-08-2021. Since then it has been testing the breakout level of it. Which is placed at 754-755 range.
And it has been taking support from the range and closing above it, since last 6 days.
2) On Daily Time Frame, it also took support from...
the technical analysis of GFTMA FX BROKERAGE
AXIS BANK is moving inside the pattern, so it show that price is under pressure in resistance zone
After corona AXIS made a recovery , but till price get rejected from the resistance zone
Wait for the pattern breakout then find your opportunity
follow my chart as a clue to market
if you like our analysis then...
Since last 3 days it failed to closed below 755 level and taking support from it.
And it has been making triangle pattern on 15min time from since last 3 days.
Breakout of this pattern on either side will give good move.
Levels and targets are mentioned on the chart. I hope it is easy to understand.
Do comment your doubt or suggestion.
Weekly & in Daily TF Axis Bank Seems like Inverse Head & Shoulder (Bullish) Pattern
1.Inverse Head& Shoulders Pattern
2.Making Higher highs in Day Frame
3. Took Recent Support Exactly at Zone Where left Shoulder took Support
4. We can expect Tgt Around 920
*Always Enter With good confirmation & Maintain proper Risk Reward.
******* Knowledge Purpose only...
Sell Below 748
Green Lines = support. Consider it as your Target if you short/sell it after the mentioned level.
Buy above 760.
Red lines = resistance. Consider it as your Target if you go long/buy it after the mentioned level.
Banking stocks are underperforming for quite some time and I cannot stress enough how bullish they all look right now! The same is with one of the biggest banks in India, AXIS BANK!
Respecting the trendline pre coronavirus and on a trajectory to reach its previous ATH
AXIS BANK is steadily moving upward, continuously making higher lows. It seems to be resuming its upward trend after the current pullback.
A long trade can be initiated on the daily timeframe.
LONG ABOVE : 752
SL : 732
TGT 1 : 772
TGT 2 : 792
All explanation and levels marked on chart.
As per hourly price action
Axis bank is trading in Rising wedge pattern Also Axis Bank create Second lower high and bounce back from support area zone.
rsi also cross 60 level in hourly timeframe .
Buy area Above Only 753 target 1 : 760 Target 2 :766 Target 3 : 774
Stop loss : 730
Axis bank has rallied more than 100 percent from its lows in 2020. However the chart structure suggests that the counter can witness significant up move from the current levels. In the weekly time frame one can see the formation of an Inverted Head and Shoulders. The shoulders are placed in the zone 770- 800 and once that level is taken out convincingly, the stock...