From the chart, it can be seen that a clear uptrend is being followed by axis bank.it has also broken its main resistance level (764) .
Also completed the 4th wave ( correction) of Elliot wave theory. So if global market remains good we can see the stock price moving towards a target of 860.
Entry @ 781 ( or 790)
Target = 860
Stop loss = 754
RIsk to reward ratio...
In 1 hr time frame its been folllowing a specific path and now the stock is at its support level (496.20).
Technical indicators (RSI & STOCHASTICS) also confirms an upward movement
Target -536
BUY @ 500
SL @ 488
Risk to reward ratio - 3:1
Not a financial advise. Use your own analysis to confirm your entry.
