Looks like there's nothing much bulls can do for AXIS BANK. Wait if you are feeling lucrative to step in at this price point.
Axis Bank looks like that Alphonso mango right now. But, there are symptoms of illness lingering around it.
Go for swing or day trading around it based on candle stick patterns and Support and Resistance.
Follow me for regular charts...
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.