Axis Bank - Ready for next life time high
Updated
This stock trades with steady volumes on the bourses in all time frames.
Similarly, it is in the oversold zones of oscillators in average time frames.
The 52W H/L being INR 1,151.85 / 814.25
It is consistently making Higher Highs and Higher Lows.
It is standing around its support level in a rising channel.
LTP on NSE on 06/Feb/2024 was INR 1,053/- (with a high of INR 1,096.20)
It has already reached its demand zone and conservatively even if it falls from the current level to INR 1,000, it will be a good buy INR wherefrom it bounced back to reach its lifetime high.
After all this discussion, I believe the target price should be INR 1,300-1,400.
Stop Loss should be INR 900
Risk to Reward will be 1:4
The time horizon should be 9-12 months
Similarly, it is in the oversold zones of oscillators in average time frames.
The 52W H/L being INR 1,151.85 / 814.25
It is consistently making Higher Highs and Higher Lows.
It is standing around its support level in a rising channel.
LTP on NSE on 06/Feb/2024 was INR 1,053/- (with a high of INR 1,096.20)
It has already reached its demand zone and conservatively even if it falls from the current level to INR 1,000, it will be a good buy INR wherefrom it bounced back to reach its lifetime high.
After all this discussion, I believe the target price should be INR 1,300-1,400.
Stop Loss should be INR 900
Risk to Reward will be 1:4
The time horizon should be 9-12 months
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