AXISBANK is holding near its pre-covid high and has started to form a triangle which seems to be breaking on the bullish side.
Enter on the trade with full quantity once there is a breakout before that can enter with 25% or 50% quantity.
Target is around 800-810 levels.
👉 Stock 1 - #AXISBANK
👉 Sector - BANK
👨🏻🏫 Analysis Timeframes - Hourly and 15 min (Intra)
🎯 Commentary - It has shown good strength in Upward direction from 750 Level as per Hourly timeframe and now trading above its important Resistance 765 Level
It has continued good Higher Low pattern as per 15- Min timeframe and also yesterday after the opening it...
As per daily chart, Axis Bank has given a Breakout above it's Resistance line with high volume where Momentum indicator has also turned into positive sign.
Saying that on lower side it has strong support of 750 along with resistance on 850.
This scrip had broke the symmetrical triangle pattern and now it is trading near to the supply zone. Swing traders can even enter long position now and may add more quantities after the breakout of supply zone.
As the Market is in a bull run for a long time, so we can find many breakout scrips but not all breakouts can be true some may be a false breakouts too....
Axis Bank Limited (the Bank) provides a suite of corporate and retail banking products. The Bank's segments include Treasury, Retail Banking, Corporate/Wholesale Banking and Other Banking Business.
hello traders
i hope this post will be useful to you
ask me any ques in comments section
thank you
*its not a call*
i forgot to mention it but according to rsi its also loosing momentum
AXISBANK (CMP: 766)
Can try to tag the previous peak (776). At which point can face strong resistance.
*** All content in the post is for educational purposes. Not advice. ***
Break out coming soon....
Wait for blast above 820
Above 775 it can go up to 820 and based on price action at 820
further higher levels can be anticipated
For Intraday
Short AXIS BANK Between 757-758.5
With SL 763
Target 742-745
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the...
Long Axis bank between 715-722 . Once stock touch the TL this is area of value to go long. Previously have seen stock taken the support of TL. So high probability to go long from this area. SL 705 target 750. Once seen BO of Resistance level then next target is 770 with trailing SL. also if TL BD then will not take entry. This is for your educational purpose only.
