AxisBank has formed the bearish pattern at ATH and if breaks 1108 on the downside, we expect to see 1045 and 1000 in upcoming trading sessions.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
Technical Analysis: AXISBANK on the 30-Minute Timeframe
Hey Traders,
I hope you're all having a profitable day! Today, let's dive into AXISBANK and explore an interesting pattern that has caught the attention of many technical analysts – the descending triangle.
Chart Setup:
- Stock: AXISBANK
- Timeframe: 30 minutes
Pattern Recognition: Descending...
Pattern -- Elliot wave impulse formation
Current wave - Wave E
reason:
1) wave D not overlap wave A territory( check in monthly chart)
2) Wave E reached 1.618(1162) level of FIB.(Before it look a resistance at 1.232(955)level of fib).
Daily TF Analysis:
1) It look resistance at 1.618 level +highest OI
2) Histogram showing some weakness in MACD
3) RSI...
AXIS Bank trading at 874 Levels
very strong breakout on monthly chart
if October month candle (which is going to close on 31st october)
closes above 880 level can see good move on 2023
Stop loss will be below the breakout candle
Do your own analysis before take a trade
Excellent Price action
1. Breakout of multiple resistance
2. Retested the level perfectly -- meaning Resistance turned into support
3. Good 1:3 Risk reward Opportunity
Not a recommendation.
Axis Bank appears to present a favorable opportunity for a long position. I've outlined the entry price, stop loss, and target levels for this stock within the chart.
Please keep in mind that these are my personal opinions, and I don't recommend you follow them as stock tips. I encourage you to study the chart and share your feedback so that we can collectively...
Trading Strategy : Stock has given a breakout of the formation of cup and handle . One should buy the stock near the current level i.e. 980 and keeping a stop loss of 927 , look for the target of 1100-1120 in the coming weeks.
Buy: CMP i.e. 980
Stop loss : 927
Tgt: 1100
Theory:
The Cup with Handle is a bullish continuation pattern that marks a...
Why to trade? Aim only for long term.
1. At this highs with some fundamentals, it is under valued,
2. Breakout,
3. At trade, it is retraced(The Professionals Secret),
Thanks for Day Trader Telugu and other masters helped me to learn market.
I am not a SEBI registered Adviser,
please do your own analysis or consult
financial adviser for Entry, stop loss or
Target.
The stock has reached its all time high levels and is now trading in an open territory with no resistance but as per the data suggests the stock has seen aggressive call writing at the levels of 1100 so the stock can see a halt there but before that the chart looks strong and a clear breakout on the weekly charts has been seen. One should look to buy on dips for...
Axisbank as per my previous analysis has mentioned that longs need to be cautious (link in related idea section), and it did gave a excellent short trade from there on. Now the recent price action is suggesting that price may start its another leg of upmove and further aggressive short here can be risky.
Rest of the details are marked in chart
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
Currently axis bank is trading at its all ttime high and given a breakout from its previous consolidation it can retest at the levels of 1045 someone who is planning for buying can go with the levels of 1045 any confirmation at the levels of 1045 will be indicating a buy position. Long term investor can buy at current levels
Buy cmp
Sl-1000
Target -1120-1150
just observe it for learning as it is breaking res pattern volume . if one intersted in technical so posted as learning technical via sharing dont take it as call many factor affect share market movement and make it as highly risky.
