AXB trade ideas
Axis Bank Levels of Support and ResistanceAxis Bank Limited, formerly known as UTI Bank, is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs and retail businesses. As of 30 June 2016, 30.81% shares are owned by the promoters and the promoter group.
AXISBANK - Cup n Handle breakout - 50% upside potentialAXISBANK has given cup n handle pattern breakout at 840-860 resistance levels.
The breakout has been confirmed by giving a strongly weekly close above the s=resistance zone of 860.
First target: Around 1050
Second Target: Around 1340
SL: Daily candle close below 840
View: ~ 1 year
Buy Today, Sell Tomorrow: AXISBANKDON'T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:00 pm every day
- Book profits within the first 30 minutes of the market opening
- Try to exit by taking 5-7% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
- SL can also be maintained as 3% or closing below the low of the breakout candle
The levels mentioned on the chart are calculated using the BREAKOUT INDICATOR
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall
Range Breakout in AXISBANK
Buy Today, Sell Tomorrow: AXISBANK
Axis Bank Breakout above Major Resistance (Ready for Big Rally!)Axis Bank Breakout above Major Resistance
Daily and Weekly Positive RSI
Crossed and Closed above major resistance of 18 Months
Reverse from Daily 233 EMA and weekly 31 EMA
Ride Trend till not closing below week low (Trend Reversal signal)