Bottom of the Channel Pattern
Depending upon tomorrow's candle and volume we can decide.. mostly it will break the resistance.
Once there is a Good Volume we can go for LONG
All Bank Public Sector are in Rally, So Axis will go UP.
Axis bank has tried multiple times to break its high and retraced. Will be range bound until volumes pick up and Daily RSI goes above 55 levels. Wait and watch strategy to attempt any trade. An Iron Condor Optons strategy if at all to trade can be used.
The special stock analysis was provided 2 days ago for special people. Now make it public for you guys.
Axis Bank gave the breakout 2 days before.
First target 840.
Stoploss at 760.
Happy Trading!
Axis Bank Buy Abov 787
Sl 787
tr 1 - 792
tr 2 - 797
tr 3 - 802
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Thank you
NSE:AXISBANK
Observations:
1) On 1hr time frame, if you remember it has been taking support from parallel channle, as I had explained in my previous post about AXISBANK trade setup, so it has been still in that support channel.
I will put that previous tradesetup of axis bank so that you can refer that channel again.
It has taken and bounce back from the...
BUY : 768 TO 753
TARGET : 911 TO 1060
Reason For Buying This Script :
In this script it is forming Elliott wave in monthly time. And also it is forming higher high formation.
It is good sign to buy. Don't miss this opportunity. Try to accumulate in every dip.
Note :
Above given levels are based on monthly & weekly time frame . So be patience it will take...
1) Formed Head And Shoulder Pattern at Weekly Time Frame, Breakout And Retest Done!
2) In the Daily Time Frame, This script ahs taken a good Support at its bottom Support trend line, With good buying pressure (Strong Buyers), which can be witnessed by the candle it formed on the last trading day (Friday).
Trend Analysis - Respecting its support and...
IF Continuation of uptrend..
probability ..
chart self explanatory as cup&handle typepattern considered.
decide on ur own.
for observing pattern movement only
but ath considering.
AXISBANK has been staying above 800 for the last couple of days closings. The strength in BankNifty also suggests that banks may have a quick burst upwards. The risk reward supports a Long entry for the short term around 805. Targets would be 840, 860 and 900. Stop Loss would be any closing below 785 on daily basis.
Disclaimer - I have a position open on...
![AXISBANK: Simple Trade Setup | AXIS BANK | 05-10-2021 [INTRADAY]](https://s3.tradingview.com/v/vWo7Xwqa_mid.png "Simple Trade Setup | AXIS BANK | 05-10-2021 [INTRADAY]")
