AXB trade ideas
Reiterating Buy Call on Axis Bank after Amazing Q3 Result🤩💸🔥Buy Axis Bank for Positional Trading as well as Investment.💸🔥💸
Comment your views😄
.
🔥The stock is the best value pick among the major big private banks as it is available approximately at its 6 years old price while its TTM Net Profit is more than the combined Net Profit of 2020 & 2021.
.
✔️Both Technically & Fundamentals strong.💪💪
The company recently posted the best Q3 Result.
.
‼️ It was in a Retracement Phase from November 2021. Recently it formed a double bottom and had given breakout. Now with volume continuation, we can expect a strong uptrend from here.
.
💎@technofunda_trader
Few Important rules from my Trading Philosophy:
Don't compromise on the quality of stock.
2. Buy right, Sit tight- Only sell in loss if the fundamentals deteriorate, problems arise in management or any other similar issues.
3. Don't invest more than 5-10% in any stock & more than 25% in any particular or related sector. If stock is risky don't invest more than 2-3%.
4. Build position gradually as the stock rises.
5. Trade in the direction of the bigger trend.
6. Ride the trend, don't sell your winners early.
.
Like, Comment & Share 😄😄😄
Axis Bank at good levels for investmentSimple box breakout awaited. ( blue box )
Stock is consolidating since a year from Jan 21.
Axis bank is currently is the strongest of the large cap banks, Bank nifty index corrected around 7 % since the 12 Jan 22 compared to it Axis bank corrected 8.5%. Interesting par is Axis bank has reached the price as on 12 Jan 22 today compared to bank nifty which is still 1200 points away form the 12 Jan 22 levels.
To conclude Axis Bank is showing strength compared to index. Today Axis bank closed above 12 Jan 22 highs.
As soon as the price reached the lower level of ( blue box ) volumes jumped significantly and price moved in narrow range (Yellow box). This show market makers/big hands have entered the stock.
There is also a double bottom visible on lower time frames. Check Chart below.
Most importantly the stock is just below the life highs. Once it breaks out of the consolidation, it will be in the blue sky territory. This will be new high by the stocks after 3 years.
Overall can be a good bet for longterm form the current levels.
[ INTRADAY ] AXISBANK SHORT BET
risk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
Simple Trade Setup | AXISBANK | 19-01-2022 [INTRADAY]NSE:AXISBANK
Observations:
1) On 1 day time frame, yesterday it gave closing below 200 DMA and also below neck line of double bottom pattern. Today it gave closing slightly at the neckline range of double bottom pattern. But it has faced resistance from 200DMA.
Please refer below chart : 1day Time Frame.
-------------------------------------
Trade Setup for 19-01-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.