UZC trade ideas
Axis Bank: What does it say?Technical Analysis :
Here are some key points to note about Axis Bank's chart:
1. Successful Breakdown of Head and Shoulders Pattern : The chart shows a successful breakdown of a head and shoulders pattern, which is typically a bearish signal. This suggests that there is a downward pressure on the stock price.
2. Failure of Double Bottom Pattern : The chart also shows a failure of a double bottom pattern, which is another bearish signal. This further reinforces the idea that the stock price may be headed lower.
3. Below 20-day Moving Average : The stock price is currently trading below the 20-day moving average, which is a bearish signal. This indicates that the stock is in a short-term downtrend.
4. Weak Support : The chart suggests that there is weak support for the stock price at its current level. This means that if the stock price continues to fall, there may not be strong support to prevent further declines.
5. Highest Open Interest at 800 Price : Based on the above factors, it is possible that the stock price could fall to the 800 price level, which is where the highest open interest is currently located . This means that there are a large number of open positions in the options market at this price level, which could act as a support level for the stock price.
However, it is important to note that this is just a possibility and the stock price could also move in a different direction.
ALL IN ONEHello guys as all we know that the brutal selling is going in markets so I am trying to find out some well placed (according to my knowledge) key support levels for the heavy weightage Giants of nifty 50 which probably will play the important role for raise or lower this selling pressure from the benchmark index, simultaneously we get to know our good prices of accumulation of favorite one's so for that the all data I am sharing below hope this data will help you.
RELIANCE
INFOSYS
STATE BANK OF INDIA
GRASIM
INDUSIND BANK
BHARTI AIRTEL
NESTLE
SUNPHARMA
BPCL
AXIS BANK
𝐍𝐎𝐓𝐄-: 𝐓𝐇𝐈𝐒 𝐈𝐃𝐄𝐀 𝐈𝐒 𝐎𝐍𝐋𝐘 𝐅𝐎𝐑 𝐄𝐃𝐔𝐂𝐀𝐓𝐈𝐎𝐍𝐀𝐋 𝐏𝐔𝐑𝐏𝐎𝐒𝐄.
𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧
AXIS Bank - Intraday Trade || 21st March, 2023 #stocks Analysis Criteria Used:
1. Please find the Chart Analysis done for the 21st March, 2023
2. The analysis for the Intraday Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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DISCLAIMER:
𝙊𝙪𝙧 𝘼𝙣𝙖𝙡𝙮𝙨𝙞𝙨 𝙞𝙨 𝙛𝙤𝙧 𝙀𝙙𝙪𝙘𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙥𝙪𝙧𝙥𝙤𝙨𝙚𝙨 𝙤𝙣𝙡𝙮.
* Please do your own research and/or contact your financial advisor before taking any trading opportunities
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ResistanceTechnical analysts use support and resistance levels to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend.
Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply.
Market psychology plays a major role as traders and investors remember the past and react to changing conditions to anticipate future market movement.
Script = Axis bank
Time Frame = 15 min
AXISBANK 1D (20 MARCH 2023)NSE:AXISBANK
Hello traders lets talk about axis bank.
SUPPORT LEVEL :812;
All important levels are drawn in the chart.Work with risk reward ratio. not taking a trade is also a trade.
A trade cant change anything keep in your mind,if you think one trade can change your life then you are doing gambling in the market.take calculated risk.
this is only for educational purpose. before taking trade take advice from your financial advisor.