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Pullback upto 700-708 is expected before resumption of downtrendAXIS 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 the downtrend to continue with the stock seeing new lows in coming months. In long term we might see this downward rally to continue upto 598, 535, 500 & eventually upto 480.
27 Jun 2017 :: DCB BANK :: Price Alert26 jun 2017 : Price Alert
"Closely watch"
DCB Bank has been showing divergence 1hr, 4hr, and weekly time frame, here two possibilities:
- Near term if take support HL and reverse back till HH or made new high
- Near term break HL and not sustainable then it will hit approx 150-110
Levels: 110-143-185-193-210+
Note: This is educational purpose, Buy sell it's your choice.
DCB BANK PRICE ACTION ANALYSISNSE:DCBBANK
WEEKLY DEMAND ZONE
This demand zone is good. But the price is reacting to the monthly supply zone and is coming down. So we will think of trading in this zone when some candles are formed, right now we should wait for the monthly demand zone below.
MONTHLY DEMAND ZONE
The monthly demand zone has broken a long consolidation, but the daily chart has some garbage candles. If the market is in an uptrend, you can trade. This zone will be good for taking the price to an all-time high.