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Axisbankshort

Axis Bank | Anatomy of fallAxis Bank was trading in a rising trend channel. The stock moved within the channel and got rejected within the similar range at around 820 forming a double top. The stock first broke through the rising trend channel support at around 770 and followed it up with a retracement to the support line. The stock then broke below the double top neckline at 760. The breakdown was followed with a retracement back to the neckline.The target for double top is about 700. The stock in its downtrend formed a bearish flag which was confirmed with the breakdown below 735. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:AXISBANKEducation
by AkhilSuryaFS
1
Axis Bank | Double Top patternAxis Bank had been on a good bull run tracing a rising channel. Strength in bulls looks to have lost steam where it couldn't make new highs. Right now, looking at the chart we could identify a Double top pattern with neck level at 760. Yesterday's close below the neck level has confirmed the pattern and it would be right to take bear bias. However do look for a retracement for better entry to manage risk-reward. Target according to the pattern comes in at 700. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:AXISBANKShort
by AkhilSuryaFS
1
Axis weekly expiry sell 720 PE sell 800 CESeveral indicator suggested that Axis momentum will be slowed down and trade in range of 720 -760 Range for expiry 28/03/2019.. You can short once it is below 753 for target up to 724/ stop loss at 756..Alternatively you can sell 720 pe as well as 800ce..MACD show slowed down diversion compared with price uptrend...Brokerage houses give calls for 800/ as positional Buy..This observation is only for Futures and options pricing for this expiry only..This analysis only for education and do paper trading
NSE:AXISBANKEducation
by vaithi