Axis Bank (NSE Cash)
Daily Charts (Medium to Long Term)
The candles have broken the trendline on 16th March 21.
RSI too broke the 50 level but I wouldn't panic as yet because the RSI is showing a reversal. This means that Axis Bank may have corrected itself but it isn't weak on daily charts.
There has been a lot of selling as well so we might see a bounce back...
Note: This is for educational purpose only.
There seems to be bullish bounce back from 50 EMA (acting as dynamic support), 61.8% Fibonacci level and last swing low with good volume. Similar pattern can be seen in RSI as well.
Note: This is for educational purpose only.
There seems to be a Inverse Head & Shoulders bullish breakout with good volume. Volume is higher that last ~30 days. There seems to be a RSI bullish breakout as well. RSI at 69 indicates bullish momentum.
Buy now or in dips till 640₹
SL = 610₹
Note: This is for educational purpose only.
There seems to be a bullish Inverse Head & Shoulders pattern. Moreover, RSI above 60 indicates bullish momentum.
Axis Bank has broken its Flag & Pole pattern albeit with lower than 20 day MA volume!!
One needs to closely watch this scrip now as it may be a false breakout.
If the break out is supported with volume spurt then the target is good and will be quickly achieved.
But even today the volume is not above the 20 day MA of volume, hence, maintain a very tight SL on a...
Axis Bank Limited ( NSE:AXISBANK ) is Making Ascending Triangle Pattern (PATTERN BREAKOUT TRADE). This can become a very good trade for intraday traders.
Target + Stop Loss: There is no target here. You keep the first target as much as the stoploss you put. And the stoploss will be the low/high of the candle that broke this pattern. Or low/high swing backward...
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.
- Axis Bank finally broke out from the ascending triangle.
- Laddering some longs 505-480 ( for positional or holding )
- Stop Loss at 450 in case pattern failure.
- Target = Height of triangle.
