Banknifty as a sector is not performing, but i have a feeling that it will turn around.
Axis bank is in a very good structure and is poised for a good growth in the 3-4 months. I say it becuase of the following reasons.
1) Bank Nifty will start performing and it's only a matter of time.
2) Axis Bank is in a very good structure and is heading close to 765 Which...
Asian paints is in an upper trend and currently in a small retracement on the back of the low volume. It has two possibilities -either move up or move down. I have a strong feeling, it won't go further down from here as:
a) It is in an established uptrend,
b) It is moving in a trend channel.
c) Currently it's taken support at weekly CPR and POC.
I am hopeful...
expecting retracement to 3500 level , will then take support at the middle trend line.
Would then trend higher and move in the trend channel as shown.
Please know that I am a charting student. This is just for my learning and educational purposes and others to comment to guide me.