Stock is back to covid lows and expecting bounce from here
NIFTY WEEKLY CHART ANALYSIS -SINCE 9TH 2017 OCT 9950 HAS BEEN A CRUCIAL SUPPORT FOR THE INDEX QUIET A FEW TIMES -REMEMBER HIGHER THE TIME-FRAME STRONGER IS THE SUPPORT/RESISTANCE -WE TOOK LOT OF TIME TO BREAK ABOVE 9950 INITALLY -BUT SINCE OCT OF 2017 WE HAVEN'T GONE BELOW IT -DUE TO THE PANDEMIC THE LEVEL WAS FINALLY BROKEN IT TRAPPED SOME SHORT PLAYERS -BUT...
AXIS BANK: After the trendline breakout in July the stock has given a good downward movement & has clearly taken a support around 61.80% Fibo Retracement. I expect this pullback to continue this week & the stock will try to fill the gap. Thus, a pullback upto 700 – 708 range can be expected. But in my view this might be a Dead Cat Bounce (DCB) & soon we might see...