Once again the price is trading near the support area of the channel which is considered as a good buy. If one is entering the market long at the support can aim for the channel top as the target which is almost 100 points
AS you see the previous history of the pattern price exactly took support at the channel bottom and rejected at the channel top. Instead of...
Note: This is for educational purpose only.
There seems to be an ascending triangle bullish breakout with volume. RSI is above 70 which indicates overbought. There might be some consolidation/ side ways movement before the next up move.
446-447 levels seems very important levels.
Stock has broken this level, But tomorrow if it opens below the level then we can look for short opportunities.
However if not we can look for the long opportunities in Axisbank.
After the sharp down move early this year Axis Bank has been consolidating with an upward bias. One can observe the formation of a symmetric triangle in the daily and shorter time frame charts. The stock has been receiving support in the 413-428 range in the last couple of weeks. A break above the long entry price point mentioned in the chart can take the price...
Axis bank has been in a downtrend for 3 weeks mainly due to the RESULTS it announced on 21 July.
The level it is now had been tested multiple times. So it can be expected to MOVE UPWARDS .
But keep in mind the possibilty it has to further move down . So please wait and watch till it indicates a clear up trend.
An important point to look is bank nifty....