Axis bank breaking down most critical support band, 200 ema is make or break support/breakdown. Keep a close watch. This may drive the bank nifty sentiment as whole.
Weak chart structure
Continously closing in red since 5 trading session
Can sell once it breaks 1054
Target 1038/1025
Stop loss 1068
I am just representing my views
For educational purpose only.
Axisbank had given a breakout around 1100 level and made a high of close to 1130 and higher.. its resistance can now be well backed by a good support at 1100, On monday we can expect axisbank to open lower and fall even lower only to take support around 1100 and from there on we can expect further upside for axisbank.
Entry level 1100
Stop Loss 1080
Target...
buy from cmp to 1100
sl close below 1096
easy tg - 1130
tg2 - 1150
Not suggested Disclaimer : This is my personal analysis for study purpose not intended for trading.
In this idea I am going to introduce you all my new concept for positional buying in the form of a simple strategy .
I have noticed that many of new investors and traders enters in the market in random manner either they enter in a running candle or they enter by choosing some moving averages or RSI but whatever they choose to enter a trade they mostly miss the...
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
Price was moving in a channel pattern and today it has given break out. Trend deciding zone is 1080 - 1085. Price has to sustain above it to move up further.
Buy above 1085 with the stop loss of 1076 for the targets 1094, 1102, 1112 and 1122.
Bearish below 1076 and price may test 1060 level.
If price is unable to sustain the mentioned level, then once again price...
27 Feb price break the trend line. It's indicate that price will go down with in couple of days.
Short resistance range: 1078-1077.30
Next Support 1: 1058
Support 2:1050
Stock is taking multiple support and moving up and consolidating.. it should test its RVWAP in such situation...
Target should be RVWAP
SL should be multiple support area...
Ascending and descending channels are also called trend channels because the price is moving more dominantly in one direction. This may be referred to as having bearish or bullish movement, as an ascending channel may be indicative of future new highs while a descending channel may be indicative of future new lows NSE:AXISBANK
Reasons for long
1. BN looking bullish
2. Price reacting from a weekly demand zone
3. In daily chart price made a "W" pattern
4. In daily chart price reacting from a daily demand zone
IF the shwoed it's move tommoew so as the axis , so as the whole banking stocks ... Favored foom the news RSI si under 45 too, amd still prettymuch away from it's resistence!
Axis Bank is forming lower highs and lower lows pattern and looking a good sell candidate around 1125 - 1130 for the targets of 1045 and below marked levels on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
