AXISBANK Levels // 30 MinHello Everyone 👋
Stock Price: As of the last close, Axis Bank’s stock price was ₹1,165.95 INR, showing a decline of 0.34%.
Support Levels: The stock dropped from ₹1,340 and is now nearing support at ₹1,160-1,150, including historical levels and the 200-day Simple Moving Average (SMA).
MACD Signal: The Moving Average Convergence Divergence (MACD) suggests a potential reversal, indicating a buy opportunity.
Upcoming Earnings: The next earnings report is expected around October 23 for Q2 2024. The estimated earnings per share (EPS) is ₹20.25 INR, and the revenue estimate is ₹195.84 billion INR.
UZC trade ideas
#AXISBANK .. short term swing tradeMomentum:
Price Action: The stock is showing signs of bullish momentum as it attempts to break out of a recent consolidation range (marked by the horizontal resistance line around ₹1,177). The breakout appears to be taking place with some strength, which is a positive signal.
Target Area : The chart highlights a potential target zone above the breakout point, suggesting a price increase of approximately ₹40.70 , which represents a 3.45% move from the breakout level.
Dow Theory:
Primary Trend: The primary trend on the hourly chart appears to be bearish, as indicated by the preceding significant downtrend.
Secondary Trend: The stock has been consolidating in a range after the downtrend, forming a base. This consolidation is indicative of accumulation, where sellers have weakened, and buyers are gaining control.
Tertiary Trend: The short-term trend shows a potential reversal to the upside, as indicated by the breakout from the consolidation phase.
Strength:
Volume: Although volume is not visible on this chart, a breakout with increasing volume would add further strength to this buy signal.
Support and Resistance: The stock has broken through a key resistance level at ₹1,177, which now acts as a support. If the price stays above this level, it reinforces the bullish strength.
Buy Signal:
Breakout Confirmation: The chart shows a confirmed breakout above the resistance level, which is generally considered a buy signal. The target price is indicated at ₹1,206, which aligns with the potential measured move from the breakout level.
Risk-Reward: The risk-reward ratio seems favorable, with the potential upside being greater than the downside if the support holds.
In summary, the chart is showing a bullish signal with a breakout from consolidation, supported by the reversal of the short-term trend according to Dow theory. The stock appears to have momentum on its side, and if the price stays above the breakout level, it could offer a solid buying opportunity with a target around ₹1,206.
Axis bankWe can see three different patterns in 3 time frames namely trend line support, descending triangle and strong support. 1150 is the strong support zone.
Buy above 1066 with the stop loss of 1057 for the targets 1075, 1088 and 1102.
Sell below 1050 with the stop loss of 1059 for the targets 1040, 1028 and 1014.
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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.
Axis Bank AnalysisOn a 1 hour chart we can see some consolidation on axis bank. Also note the previous week low. A trap could be laid out below Previous week low trapping the short sellers( a possible scenario).
I have marked a box around the consolidation area. Now I am looking for a potential fake breakdown of the box and then a move up inside the box/range targeting the opposite side.
Axis bank is very close to its demand zone on a daily chart and inside the golden ratio plotted using weekly chart. So for now I am not positionally bearish on axis bank.
AXIS BANK POST RESULTS HOW TO TRADE IT 25 JULY 2024Axis Bank has completed one price cycle from the double bottoms at cycle point of 1128.45 on 5th June 2024 and hit targets at 1327.60 on 12 July 2024 nearly 200 points in 37 days run up. It recently announced its results and been correcting the price cycle rise currently. The stock has support around levels of 1219.75 below it may go in consolidating mode with major supports around the levels of 1169.95 with intermediate supports around the levels of 1194.85. Pullbacks on the stocks need to be watched around levels of 1294.40 above which we may see strong recovery. Squaring price on downside could be around 1172.20. Below 1169.95 we may see major correction in the correction. Above levels can be used to trade till August expiry.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.With usual disclaimers as applicable within the reach of this beautiful trading analysis platform. Thanks to the developers of the program for this opportunity to use it freely to express our ideas to the community of traders.
Multi year breakout - Must be on your watchlistAXIS 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
Axis bankPrice is moving in a channel and giving zig zag movement. 1296 - 1302 is a strong resistance zone.
Buy above 1286 with the stop loss of 1279 for the targets 1293, 1300, 1312 and 1322.
Sell below 1276 with the stop loss of 1282 for the targets 1269, 1261, 1252 and 1244.
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.