Axis Bank Ltd Daily Chart. Chart Pattern1. The chart pattern : Rounding Bottom Pattern:
Indicates a gradual reversal from a downtrend to an uptrend.
The white‑outlined area shows the consolidation phase forming the “bowl” shape.
A breakout above the resistance (upper rim of the bowl) would confirm the reversal and trigger a bullish move.
2. EMA Analysis:
EMA 21 (purple line) is crossing above EMA 55 (green line), showing short‑term momentum shift to bullish.
EMA 55 is above EMA 100 (blue line) and EMA 200 (orange line), indicating medium‑term bullish alignment.
Price is above all EMAs, suggesting strong support from the moving averages.
3. Volume:
Volume spikes during the decline into the bottom and increases near the breakout zone, confirming interest and potential strength in the reversal.
Watch for higher than average volume on the breakout to validate the move.
4.The View :
Measure the depth of the rounding bottom (from the lowest point to the rim) and project that distance upward from the breakout level.
Stop‑Loss: Place the SL below the recent swing low of the rounding bottom to protect against a false breakout.
