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Bearish Signals Emerge: AXISBANK Shows Descending TriangleTechnical 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 Triangle A descending triangle is a bearish continuation pattern that often signals a potential downtrend in the near future. This pattern is characterized by a series of lower highs forming a descending trendline, while the lows remain relatively constant, forming a horizontal support level. Key Observations: 1. Descending Trendline: Notice the clearly defined descending trendline connecting the recent lower highs. This suggests that sellers are becoming more aggressive as the stock fails to make higher highs. 2. Horizontal Support : The horizontal support level at the bottom of the pattern indicates a consistent buying interest, preventing the stock from dropping further. However, if this support level is breached, it could trigger a significant downside move. 3. Volume Analysis : Check the volume during the formation of the pattern. Decreasing volume as the pattern develops is a common characteristic. However, a sudden surge in volume upon the breakout or breakdown is a strong confirmation signal. **Potential Trade Setup:** Entry Point: Consider entering a short position if the price breaks below the horizontal support level with a confirmation of increased volume. Stop-Loss: Place a stop-loss slightly above the descending trendline to mitigate the risk of a false breakout. Target: - Project a potential downside target by measuring the height of the triangle at its widest point and subtracting it from the breakdown point. **Risk Management:** As with any trading strategy, it's crucial to manage risk effectively. Only trade with an amount you are willing to lose, and consider using proper risk-reward ratios. Remember, technical analysis is a tool, not a crystal ball. Market conditions can change rapidly, so stay vigilant and adapt your strategy accordingly. **Disclaimer:** This analysis is for educational purposes and should not be considered financial advice. Always do your own research and consult with a financial advisor before making any trading decisions. Good luck, and may the charts be in your favor! *Happy Trading!* Happyness Pro
NSE:AXISBANK
by HappynessPro
AXIS BANK 1D TF Analysis -2/18Pattern -- 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 revering (Momentum fading down). Immediate S&R: Support -1109-1100 Resistance -1162 As per parallel channel pattern it may reach 1370( 2 level of Fib if it breaks 1162 level.
NSE:AXISBANKShort
by satheeshSelvisubramanian
Axis Bank : Cup&HandleTrading 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 consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks. As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance. Trend: To qualify as a continuation pattern, a prior trend should exist. Ideally, the trend should be a few months old and not too mature. The more mature the trend, the less chance that the pattern marks a continuation or the less upside potential. Cup: The cup should be “U” shaped and resemble a bowl or rounding bottom. A “V” shaped bottom would be considered too sharp of a reversal to qualify. The softer “U” shape ensures that the cup is a consolidation pattern with valid support at the bottom of the “U”. The perfect pattern would have equal highs on both sides of the cup, but this is not always the case. Cup Depth: Ideally, the depth of the cup should retrace 1/3 or less of the previous advance. However, with volatile markets and over-reactions, the retracement could range from 1/3 to 1/2. In extreme situations, the maximum retracement could be 2/3, which conforms with Dow Theory. Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times it is just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup. Volume: There should be a substantial increase in volume on the breakout above the handle's resistance. Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup.
NSE:AXISBANK
by TradingSutra
$NSE:AXISBANK AT ALL TIME HIGH NOW WHAT?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 targets of 1060-1100 with a tight stop loss below 960 on a weekly closing basis. NOTE: NOT SEBI REGISTERED. THIS IS NOT AN INVESTMENT STRATEGY AND ONE SHOULD DO RESEARCH OR CONSULT WITH THEIR FINANCIAL ADVISOR BEFORE TAKING ANY INVESTMENT DECISIONS.THIS IS ONLY FOR EDUCATIONAL AND LEARNING PURPOSES.
NSE:AXISBANKLong
by longstocks
Amazing breakout on Weekly / Daily Timeframe - AXISBANKCheckout 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 amazed!! #No complicated chart patterns #No big big indicators #No Excel sheet or number magics TRADE IDEA: WAIT FOR THE STOCK TO BREAKOUT IN LOWER TIMEFRAME AND RETRACE IF NEEDED. SL IS NEARER SUPPORT ZONE IN 1HR TIMEFRAME.
NSE:AXISBANKLong
by Yoyohoneysingh93
Axis bankPrice has formed a rising wedge and the consolidation is getting narrow. Pattern : Wedge. Range : Medium. Trend strength : Normal. Buy Above : 994. Stop Loss : 989 Targets : 999, 1004 and 1010. Sell below : 985. Stop Loss : 990. Targets : 980, 975 and 970. Price in one hour time frame. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:AXISBANK
by vanathi
Axis Bank: Uptrend continues, swing traders can buy Axis Bank is currently in an uptrend, and swing traders can look to buy above the recent swing high of 1013.50 for a target of 1033. A stop loss below the recent swing low of 988 is recommended. Sure, here is a fine-tuned version of your Axis Bank trading idea: Axis Bank: Uptrend continues, swing traders can buy Axis Bank is currently in an uptrend, and swing traders can look to buy above the recent swing high of 1013.50 for a target of 1033. A stop loss below the recent swing low of 988 is recommended. Technical indicators: RSI: Bullish on the daily chart MACD: Bullish crossover on the daily chart Key support and resistance levels: Support: 1013.50, 999.50, 988 Resistance: 1033, 1047, 1061 Trading strategy: Buy above 1013.50 Target: 1033 Stop loss: 988 Please note that this is just a trading idea and not a financial recommendation. I have made the following changes: I have added a more specific target price, based on the recent swing high. I have added a stop loss below the recent swing low, to limit risk. I have added technical indicators to support the trade idea. I have clarified the trading strategy. I have added a disclaimer at the end. I hope this is helpful!
NSE:AXISBANKLong
by kumaranv0410
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