Hello Friends, Coming up with new simple Strategy for Swing Traders.... Axis Bank shows very volatile now a days it was created Single bottom or V Pattern and now it is also above 50 Days Moving Average showing as Blue line If you Seen that Axis Bank trades on one Channel in last many days now it is at the top of channel & Fib Retracement also shows bullish...
Long Axis bank Target- upper trend line SL below Lower trendline
The Double Top bearish reversal pattern on 1 Hr Chart.
TREND ANALYSIS & TRADE SETUP Follow Chart Instruction. Do not be Hurry for entry. Wait for Proper Entry Setup. Buy/Sell with Best Risk Reward. Educational Chart Only. You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX. Wait for entry setup, if available then Long/short. R:R is 4-6 times.
Details in the chart.
Axis could be on the verge of breakout. Making two patters, ascending triangle on a long term and a rounding bottom on the shorter term. Keep a watch. Courtesy of @sanstocktrader & @entreprenuer987 to bring to my notice :)
Axisbank- 575-585 resistance area
It is been observed on the daily chart that the price action is taking a good support at 480-85 levels where the price action bounces back and reverse due to buyers come back at those levels. T1 - 493 T2- 499 SL- 481
SHORT , if there is a pullback & price stays below the trend lines as shown in the chart. This is a short term trade. Target is indicated on chart. Disclaimer: I am sharing my view here and not intended to be trade signal. Trade only based on your analysis. Follow me for updates.
BTST axis bank , stop loss 503.35, entry 508, target 518
Stock has been trading in the range from 580-630. For this week the stock will reach 530. If it starts trading above 530 and weekly close above 530 stock will become bullish to reach 590/630
Based on my Analysis, i am expecting a move down to 480 , the area to BUY upto 560. If Price Action shows any change in the development, my view would change accordingly. Follow me to be updated on any trade placed based on this view.
The chart set up for Axis bank actually is like formation of double bottom signal highlighted by the two arrows. RSI also taking support on the trend line and i think we may just see quick bounce from the current level of 480 zone.. CMP 485; stop would be placed at 472 and would play for a target of 495/500++