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Axisbanklong

Axis bank looking bearish on higher time frame. Axis bank has been trading around the higher level and is forming a base near 1030 zone. Both side movement can be there in the stock and confirmation is need for the entry to trigger. But the stock on the weekly chart is showing some bearish RSI divergence and the dropping strength can be the initial signal of a bearish move. On the daily charts, it is around the 200 ema. Either it will breach the levels or take support from the same. Watch for the levels and price action. If the stock starts trading below the 1028 level and even close below it, next month expiry derivatives can be traded for the bearish momentum in the stock. Major bearish target levels :- 980, 950. Entry :- Close below 1028 levels. Positional/ swing trade can be initiated in the stock for the next month expiry and trailing SL must be kept to limit the lose and capture the move. Wait for the price action near the level before entering the trade.
NSE:AXISBANK
by TheMamboMomentum
Axisbank Support Level ExplainedAxisbank had given a breakout around 1100 level and made a high of close to 1130 and higher.. its resistance can now be well backed by a good support at 1100, On monday we can expect axisbank to open lower and fall even lower only to take support around 1100 and from there on we can expect further upside for axisbank. Entry level 1100 Stop Loss 1080 Target 1145 Happy Trading, Yamini Prabu NSE,NISM Certified TA, Independent Trader and Trainer
NSE:AXISBANKLong
by Yamini_swingtrader
AXIS BANK Analysis for Short termIntraday view stock is in down trend. It's follow a trendline . When price will be near at or touch trendline we can shorts our position. For long term investor buy on dip . It's a best options for them . Support: 1092 Resistance: 1104 Maximum volume at 1100 (So we can think if price will be near this level and create a bearish candle we can make a position on shorts) As expected if continue the downtrend price will be come at 1090. if near 1090 any bullish candle will be create at 15 or 30 or 45 min then buy . Level 1090 was the Fibonacci retracement zone. Bullish position will be create when price will be trade upper 1104.
NSE:AXISBANKShort
by KaustavHazra
Axis Bank : Cup&HandleTrading Strategy : Stock has given a breakout of the formation of cup and handle . One should buy the stock near the current level i.e. 980 and keeping a stop loss of 927 , look for the target of 1100-1120 in the coming weeks. Buy: CMP i.e. 980 Stop loss : 927 Tgt: 1100 Theory: The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks. As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance. Trend: To qualify as a continuation pattern, a prior trend should exist. Ideally, the trend should be a few months old and not too mature. The more mature the trend, the less chance that the pattern marks a continuation or the less upside potential. Cup: The cup should be “U” shaped and resemble a bowl or rounding bottom. A “V” shaped bottom would be considered too sharp of a reversal to qualify. The softer “U” shape ensures that the cup is a consolidation pattern with valid support at the bottom of the “U”. The perfect pattern would have equal highs on both sides of the cup, but this is not always the case. Cup Depth: Ideally, the depth of the cup should retrace 1/3 or less of the previous advance. However, with volatile markets and over-reactions, the retracement could range from 1/3 to 1/2. In extreme situations, the maximum retracement could be 2/3, which conforms with Dow Theory. Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times it is just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup. Volume: There should be a substantial increase in volume on the breakout above the handle's resistance. Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup.
NSE:AXISBANK
by TradingSutra