Expecting a breakout soon in AXISBANK ?From the last few trading sessions it is observed that AXISBANK was trading in a range and forming triangle pattern between the resistance and support levels.
Green trend line is acting as a strong resistance shown by green dots and one could enter long if that trend line is breached and axisbank moves above 441.
Similarly, lower red trend line is acting as a good support for AXISBANK and it failed to close below it as shown by red dots and keeping this in mind one should assume that if that trend line is breached and stock moves below that support levels we can enter the short trade below 430.
Both Entry points also acts as our stop loss in case stock retraces back showing false breakout in either direction, targets will be 10-20-30-40 pts. from Entry Points in both side trades.
