The 200 MA at 11130.
A "Consequence zone" of all 3 fib. retracement at 11502 nearby.
From the Fib. Retracement(i) and (ii), we detected 3rd Fib. Retracemet at 11200. (This is expected bottom OR revesal level).
Point 1) Look at Fib. Retracement (ii) at start point which is exact at 61.8% of Fib. Retracement.
Point 2) Now, loot at the Fib. Retracement (iii)...
Wait for Tail to trade. There're two channels, one is yellow which closed and another channel till final wave remain. A (5) wave projection is plotted on the chart with considering control price and no trade activities area.
I have also used the timeCycle but did not add it here cause of complexity.
Support as Value...
Channel (i) and Channel (ii) was represented at support or at value low. Axis bank created an excess in both channels which good opportunity to buy 741 nearby with stop loss of 730 below of candle closing base. Target is 766 nearby at control price.
TimeCycle (2) is also going to positive.
If there is not anything -ve on this stock, Support will be compelling...
created a TAIL at support line.
Breakdown the "major channel".
61% "fib. retracement" at 11492 nearby.
personally thought is that We might see more fall but technically price has support.
---> Hit LIKE button for real-time ALERT.
This value area channel has completely in tight trend.
Support at 30234 nearby exists which can react with smaller penetration.
There is require big -ve new to break this channel, therefore I am thinking for U-Turn nearby the support.