Axis Bank is dangling like a Northern star without losing its shine no matter how many bricks Indian banking sector is throwing at it. Wish it can get out of the barriers soon and fly sky high.
Bullish trend is observed.
BTST TRADE IN AXIS BANK
:-200-DMA TAKEN OUT
:-RISE IN OI+RISE IN PRICE
:-RESISTANCE OF 730 TAKEN OUT
TRADE IN FUTURES 28TH NOV CONTRACT
LEVELS ARE ACCORDING TO SPOT PLEASE ADJUST FOR FUTURE PRICES
ALTHOUGH REAL OI DATA WILL BE AVAILABLE ONLY AFTER 6/7 PM
!!PLEASE NOTE TRADE WITH...
Axis Bank bounced off from rising channel support at 760. That price also seem to be a horizontal support area. If the stock holds on to the channel we can expect a considerable move upwards. Notable resistance is at 820 area where life time high falls as well.
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Slight Bullish Harami gives some confidence. This looks interesting because Axis is breathing some fresh air after so many months. If it sustains at this level, I firmly believe that Axis can hit the HHs pretty soon. All because of that YesBank fiasco, I assume.