Axis Bank is dangling like a Northern star without losing its shine no matter how many bricks Indian banking sector is throwing at it. Wish it can get out of the barriers soon and fly sky high.
Bullish trend is observed.
We need to tread carefully. Intraday traders can reap benefits based on momentum and short term trend direction, taking 5/15 minutes candles into consideration. If looking at Intraday, then keep your fingers fast with at least 10-30 points profit, and exit. BNF, as of now, is like a drunkard in a Hummer.
Appointment of new CEO breathed fresh air in to the company. But, the latest news of RBI threatening action against Yes Bank leaves the lit candle in gusts of wind. The hope is bleak but I presume that Yes Bank will come out of this chaos one more time. So, taking a LONG position for 250+ by this month end. Fill that gap.
Slight Bullish Harami gives some confidence. This looks interesting because Axis is breathing some fresh air after so many months. If it sustains at this level, I firmly believe that Axis can hit the HHs pretty soon. All because of that YesBank fiasco, I assume.
W.R.T the current global markets' performance which is on a massive downtrend with DJI losing 650 points and more than a 1000 points last week, there will be a significant effect on Indian markets on 26th Dec to 1st week of Jan 2019. Demand Index prophesize the next movement, but not the next day's movement. So, please DYOR