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Axisbanklong

Axis Bank - Will it break or not?Axis bank is continuously moving in a channel. Now it made a bowl pattern at its resistance level from where it can give a 2-3% rise if breaks. Another point is that we can see a good fall if it faced rejection. It can later go up to the lower level of the parallel channel . As of today, it closed with good volume if the market opened in a good range then we can see good buying in AXIS BANK, which lead us to the target of 830 from our current position and the second target of 850 (where it previously faced resistance) If the stock faced resistance then we can see consolidation for some time and that consolidation will decide its upward and downward direction for the downward direction we are having the support of 785 and the second support at 750. . . Disclaimer: These are not any recommendations for any funds or stocks and are meant only for educational purposes.
NSE:AXISBANK
by SUTHARTRADE
[POSITIONSL] AXISBANK LONG IDEAAXISBANK is currently trading at a big resistance zone that is trying to break it. This Resistance zone has touched 5-6 times in the past but could not breach it. If AXISBANK breaks this resistance zone it is a very good candidate to go long for target of 1000-1100s . Entry :- 825 SL :- 722 (Last swing low) Target :- 1022 Please Note:- AXISBANK is almost at ATH also the overall markets (NF/BNF ) are near ATH. So there is a chance of correction, pullback even after the break of this zone (due to overall market conditions ) so we have to be cautious. We will wait for the closing Above entry point for two days before taking this trade.
NSE:AXISBANKLong
by Santosh_A_Chavan