AXIS BANK Another Bank similar story . From 850 lever to sub 400 looks cheap but current up move part of correction of long term correction . Any decent rally is a good selling opportunity.
Axis
Following previous idea! EMAs doing their job clearely! redesigning the inverted symetrical-cut parabolic shape
Love, Good Luck and Happy Halving!
AXIS BANK LONG TERM WAVE COUNTAxis bank is a deciplined stock which obeies and respect all chart patterns and elliot wave pattern.this type of stock is good for trading.
5 waves wX,Yx,Z or (12345) COMPLETED and now correction started.wave A COMPLETED AT 325.
THIS upward move is flat in nature and wont go more than 506 because the fall is steep.
after completing wave B near 506 again it will fall for wave C which is a motive wave mercy less wave will bring down axis to 220.
prepare and invest accordingly
Axis Bank Tomorrow 3 April will go down03 April 2020 Trade - Short Axis Bank near 354-362 add 1 more if gets near 368-372 Sl above 380 tgts minimum ist tgt- 339 2nd tgt 323 and final tgt if comes near 302. Trial your sl if once comes to ist tgt. I am not responsible for ur profits or losses. Do proper money management before entering into trade.
ICICI Bank Long Build up in IntradayHey Everyone,
You had caught a good short from our previous harmonic PRZ and made good profit there. Now I had found an another swing and its a long setup . Good setup for swing and Intraday as well .
Buy Area 418-422
Stop Loss : 414
Target : Open
Bank Nifty Intraday Setup for Expiry day November 7 2019Regrading Bank Nifty Index : Yesterday Index has made a new high (30699) almost on their resistance Level (30805). Remember Today is Weekly Expiry and Sentiment is Already on here Because Govt sets up Rs 25,000 crore alternative investment fund to revive realty sector.
News Can find here : economictimes.indiatimes.com
Remember Housing Project direct Connect with Banking Sectors and can affect directly.
Trade Setup : Gap up Opening is possible Today. As an Intraday Trader and a tech Analyst I will not jump in battle without proper preparation. We will follow our Gap up and Gap down strategy and keep notice to Bank Nifty Resistance Area . 30805 then 31600
Investors and Swining Trader opportunity.Everything is in plotted in the chart but, where should be our entry will decide by lower timeFrame chart.
WAIT and LET ME UPDATE very soon lower time chart for exact entry level.
Axis Bank in uptrendAxis bank has started it's final wave 5 to new highs. A good buying opportunity (from long term perspective) could arrive IF it comes to retest the upper trendline of the latest correction (as shown by arrows).
Short AxisBank : Bearish Cypher & Double TopHey Guys,
As you can see from the chart we have a completed bearish cypher formation and price is staying above our usual entry level in Axisbank . We can take this trade now also, bcos it gives us the advantage of reduced risk reward, so even incase of loss we will be losing lesser compared to what we lose if we enter @ Usual entry level.
Moreover, you can also notice that there is double top formation and the bearish side confirmation with the downward move. If you check on RSI it is also showing bearish divergence which makes double top more valid to enter the trade.You can short based on Bearish cypher or doubletop as entry reason in Axisbank.
Am not sure how the market will open today, so if there is gap up below stops zone - Am planning to short Axisbank .
If gapdown happens below usual entry level I wont take this trade.
Hit Likes to Agree...
Thanks for your support ! Happy Trading !
How to properly scale your chartsMany charting tools require a proper scaling of price / time.
This is the method I'm using to scale my charts if needed.
1) Draw a rectangle somewhere on your chart
2) Set it's coordinates to 1:1
So if the price coordinates are 300/350 , set the bar (time)
coordinates to have the same difference of 50 in this case
3) Draw a "Fib Speed Resistance Arc". You can find it in the
second tool bar menu where you also find the Fib Retracement
4) Set it's PRICE coordinates to the same you have set for the rectangle.
For both BAR coordinates you use the smaller number from the rectangle bar coordinates.
Now after you have done that drag one axis (price or time) and move it around.
Watch the upper right corner of the rectangle cross with the fib arcs.
If it crosses with the 1 fib arc, you have a 1:1 scaling.
On the chart example you can see it cross the 3 fib arc so the scaling is 3:1
If you found a nice scaling, right-click the price axis and select "Lock Scale"
so you can zoom in and out of the chart without changing the scaling.
You can try the following scaling ratios:
0.5 / 1 / 1.272 / 1.414 / 1 / 2 / 3 / 4 / ...
also all the X.618 ratios could be usefull. (0.618 / 1.618 / 2.618 / 3.618 / ... )
Let me know how this works out for you and feel
free to leave a comment if something is unclear.
Cheerz : ]
