axis bank deep crabfresh long above red line only for targets 848-855
let candle first close above the line
AXISBANK trade ideas
Buy AXIS BANKAccording to chart anylasis its trade in parallel chenal and now this stock trade at support level. No more discussion 😊
Buy @715 or above
Target : 750-770++
Go Long keeping the red line as SLKeep the red line as SL and go long but if it breaks the red line and gives closing for even a single day then go short with a target towards the lower blue line. For long look for a target towards the upper blue line and then towards 200 day MA.
trend line support and falling wedge in psiRSI is forming a falling wedge pattern and is at a trend line support, very good support level to look for targets of 5-7% from current levels
Axis bank Swing trade.the properly market have been in the range for few days ,
our swing trade can be active above the breakout of 760.
Axis Bank Wave countElliot Rules and guideline
1)Wave 2 should not retrace entire wave 1(Here on cycle degree it retraced wave 1 by 61.8% which is ideal as per guideline)
2)Any one wave entend's other 2 by 161.8%,other 2 being equal in length(As per guidelineTypically wave 3 extend's and 1 & 5 tends towards equality).Here also Wave 3 extend's wave 1 by 161.8% and wave 1 and 5 tends towards equality
3)We see two different forms of correction in wave 2 and wave 4 one being regular flat in case of wave 2 and other being triangle in case of wave
4 (Triangles are typically formed in wave 4 which is seen over here) which is signifying asymmetry between both the waves.
Current count as per above logic and rules application.
Super cycle: Wave 2
Cycle: Wave C(might have begun)
Before covid prices has started showing weakness and already been correcting,and on the back of covid panic it completed cycle degree wave A of super cycle wave 2.Since then prices has been moving up in an corrective manner and when it approached previous ath levels it faced rasistance.So far we have seen 3 attempts made by price to penitrate ath which all failed to sustain on closing basis.We are also seeing a negative divergence on RSI indicating top formation.Along with this negative divergence price was moving in a rising channel which also got broken and previous pivot low were broken in lesser time then it took to form.
Going ahead we might see an impulsive down move unfolding to complete cycle degree wave c which would complete super cycle wave 2.Price wise super cycle wave 2 has already retraced super cycle wave 1 by 61.8% during wave A formation hence current fall should not break those low's(Covid lows).It is possible that wave C can stop any of the retracement levels be it 23.6%,38.2% or 50%(not shown over here) to complete super cycle wave 2 flat with truncated wave C correction.
Disclaimer:This are just my views do not trade on it's basis.I am post this analysis just for my future reference purpose.
AXIS BANK IN DEPTHAxis bank has completed its (1) to (5) wave in daily and we are in weekly 3rd wave...
A correction up to 626-510 is expected till march to may 2022.
Then we can see the further higher levels.
3rd wave targets are much higher around 1500 to 1600 level may be seen if fundamental remain intact.
Please like if you like it.
Regards
axisbankaxis bank looking weak. i m looking for short.
entry 736
stoploss 738.1
target 728
good luck
BUY AXIS BANK @753 - BULLISHAxis bank heading towards the weekly demand zone.
Zone has breaks the previous supply, with Crossover
Target - 2:1
This is for education purpose only, Trade as per your own risk
AXIS BANK AT CRUCIAL SHORT TERM SUPPORTAXIS BANK: Looking at it through curved trendline, It seems to be at a crucial support an has the chances of rebounding for nearly around 4 -5% of return. Another confirmation would be 0.786 Retracement level of the previous trend. And after so huge fall expectation of a dead cat bounce is not at all superficial. The dual confirmation of curve Trendline and Retracement makes it a good bet.
Targets remains to be 779 and 799. Stop-loss would be below 740 on closing basis.
CHART & ANALYSIS BY - ADARSH DEY
Axis bank Swing IdeaAxis bank has fallen 12% even after good result .The stock can make up move provided if bank nifty is positive. Here is my analysis
1)Double bottom pattern .
2)Lower low level not taken out & consolidation is from few days.
3)Good risk reward ratio
4)Trend might change if Lower High is taken out of fib level of 0.236.
5)Analysis is of 20 to 30 points and for 2 to 4 days.
(Education purpose, consult you advisor before taking trades)
Do You Buy after Good result in a stock? Must See this -AXISBANKSTOCK MARKET MYTHS -
There are many misconceptions people have about how stock market works and how it actually works. In this series we burst these myths or clear misconceptions so people can make wiser decisions in trading/investing.
Myth Number 1- A stock will go up after good result.
Reality - A stock may fall big even after very good results. Taking decision based on this information give you no edge and you will loose over long term. Big market picture is always given highest priority and buying/selling decision should be taken on this.
Example - AXIS BANK, declared results on 26th October, highest ever quarterly profit. Next day - instead of up move fall of 6%.
I too had this misconception earlier so please comment if you too thought same now or at some point of time. :)
Learn price action and trade wiser.
Axis Bank Analysis Axis Bank Analysis -
1. Major Support =1st - 700, 2nd - 630.
Major Resistance - 800.
2. Past Trend - Was in Uptrend and broke major resistance 800, failed to sustain above it.
3. Current momentum - In down, even after such a big fall from 867 to 714 the bounce was very weak from 714, failed to test even 50% to 800.
4. Overall market - Correction is going on, and i am expecting one more down move in Bank Nifty before we test previous high again.
Conclusion -
1. Current momentum is down in Axis bank, overall market is also going through correction, in fact Axis bank is even weaker than market.
2. So my expectation is that Axis bank is more likely to fall and test 700 zone.
3. Momentum in up will be only if it sustains above 770 but this should not be used to go long, use that up move to book profits or exit long position.
Trade setups -
1. Short if it sustains below 745.
2. I will not be looking for buying in this as it is very weak, any up move will be sold.
buy above given levelbreakout from all time high is close
looking at the rally in peers we can assume axisbank can also push through its all time high
if so we can get to see a good rally.
Expecting a Reversal in Axisbank Based on Daily charts, 706 is long-term support for axis bank, from there a reversal can be expected. Based on the levels one can enter the trade
axis bank in a channel axis bank in a channel after break out of 15 mint trend line also making a flag pattern
SWING TRADE on AXIS BANKSwing trade chances in axis bank...took support at the trend line and moving upwards
AXISBANK: Bullishness aheadAfter a long bullish trend from April 2020, AXISBANK was consolidating in an ascending triangle pattern. It has now broken out of the pattern on closing basis, indicating probable continuation of the original bullish trend. Targets are 855, 905 and 970. A close below 760 should be taken as stop-loss.
Disclaimer: This is not a trading recommendation, but is only a predictive analysis for information and follow-up. NEVER trade without a protective stop-loss in place.
Axis Bank To The moon!!Axis Bank has been consolidatiing inside a channel pattern for the past three months....and it is ready a break a inverted head and shoulder pattern in its monthly time frame. We can expert a movement of atleast 15 to 20% in the short term.one can enter after a bullish candle at the bottom of the channel pattern or could wait for the channel pattern. Make sure you enter at the right spot and have atleast a risk reward ratio of 1:2......Cheers!!!
