EXPLANATION : This is a 15 min time frame chart of AXISBANK , It has formed Inverted Cup & Handle pattern // Swing Pattern . If give a strong breakdown and broke its demand zone with high volumes and retest the same , I am bearish on AXISBANK . Super setup in AXISBANK Fixed range volume profile // Inverted cup & handle pattern // Swing pattern // Supertrend...
1) On Daily Time Frame, we can see that it is still getting support from the parallel channel.
Today it got support from the middle line of parallel channel.
Please refer below chart : Daily Time Frame.
Trade Setup for Date 29-09-2021:
1) On Daily Time frame it had formed rounding bottom and breakout it. It was breakout on 9-08-2021. Since then it has been testing the breakout level of it. Which is placed at 754-755 range.
And it has been taking support from the range and closing above it, since last 6 days.
2) On Daily Time Frame, it also took support from...
Since last 3 days it failed to closed below 755 level and taking support from it.
And it has been making triangle pattern on 15min time from since last 3 days.
Breakout of this pattern on either side will give good move.
Levels and targets are mentioned on the chart. I hope it is easy to understand.
Do comment your doubt or suggestion.
Sell Below 748
Green Lines = support. Consider it as your Target if you short/sell it after the mentioned level.
Buy above 760.
Red lines = resistance. Consider it as your Target if you go long/buy it after the mentioned level.
I hope you can now see how AXISBANK represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be...
Note: This is for educational purpose only.
Axis bank seems to be losing momentum. RSI went below 50. Formation of somewhat a double top in play. Spike in selling volume too. Short only if price breaks the support line.
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Axisbank at its support zone @379.50
if it go below 379.50
can sell (range - 379-377)
Target 1st - 371
SL - 389.55
AND if it go above 381.90
tg. 1st - 384
2nd - 388-90
SL - 376
INTRA-DAY TRADE IN AXIS BANK FUT
!!please note trade with caution!!
!!manage your risk!!
!!please adjust for future rates!!
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