hello traders
i hope this post will be useful to you
ask me any ques in comments section
thank you
*its not a call*
i forgot to mention it but according to rsi its also loosing momentum
NSE:AXISBANK
Observations:
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...
NSE:AXISBANK
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.
All...
NSE:AXISBANK
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.
AXIS BANK is steadily moving upward, continuously making higher lows. It seems to be resuming its upward trend after the current pullback.
A long trade can be initiated on the daily timeframe.
LONG ABOVE : 752
SL : 732
TGT 1 : 772
TGT 2 : 792
All explanation and levels marked on chart.
Currently trading in a engulfing pattern which can give breakout on either sides.
Swings will be restricted to the resistance and support zones.
Expect breakout in next 4-7 sessions.
Axis Bank (NSE cash)
LTP: 694.70
Support: 693.80
Resistance: 700.45
Daily charts (long term)
The candle has taken support on the 20 DEMA.
There is a clear uptrend since 22nd April
MACD is neutral because it is trading the bear zone but has green bars and there's a reversal as well.
RSI too is trading above 50 which is a good sign.
***Bullish
Hourly charts...
