AXIS BANK HAS BROKEN THE RESISTANCE!AXIS BANK has broken the short-term resistance level successfully. A small upmove may be seen from here.
Axisbanktrend
Axis Bank - Ready for next life time highThis 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
Axis Bank (ticker: AXISBANK) ForecastThe chart provided is a daily candlestick chart for Axis Bank (ticker: AXISBANK) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart:
Timeframe and Data:
- Timeframe: Daily
- Data Range: From around September 2023 to mid-2024
Price Analysis:
- Current Price: ₹1,174.00
- Price Movement: The stock has shown notable price movements over the period.
- The price had a significant rally from around ₹900 in October 2023 to a high near ₹1,225 in early 2024.
- Post the high, the stock has been in a consolidation phase with a downward trend, forming lower highs and lows.
Technical Patterns and Indicators:
- Descending Channel: The stock price has been moving within a descending channel from the high in early 2024.
- Upper Trendline Resistance: Around ₹1,182
- Lower Trendline Support: Around ₹1,106
- Fibonacci Retracement Level: Applied from the recent swing high to low.
- 0.618 Level: ₹1,152.90
- 0.5 Level: ₹1,143.90
- 1 Level: ₹1,182.05
Key Levels and Future Projections:
- Resistance Levels:
- Immediate Resistance: ₹1,182.05, which aligns with the upper trendline of the descending channel and Fibonacci level.
- Major Resistance: ₹1,228.80, which is close to the previous high.
- Support Levels:
- Immediate Support: Around ₹1,143.90 to ₹1,152.90 (Fibonacci levels).
- Major Support: Around ₹1,106, aligning with the lower trendline of the descending channel.
Trade Setup:
- Bullish Scenario: If the price breaks above the immediate resistance at ₹1,182.05 and sustains above this level, it could potentially move towards the major resistance at ₹1,228.80.
- Bearish Scenario: If the price fails to break above the immediate resistance and moves below the Fibonacci support levels (₹1,143.90 - ₹1,152.90), it might test the lower trendline support around ₹1,106.
Conclusion:
The chart for Axis Bank shows the stock in a consolidation phase within a descending channel following a strong rally. Key levels to watch include the immediate resistance at ₹1,182.05 and the Fibonacci support levels. A breakout above ₹1,182.05 could signal a bullish move towards ₹1,228.80. Conversely, failure to break this resistance and a move below the Fibonacci support levels could indicate a bearish trend towards ₹1,106. Traders should look for a confirmed breakout in either direction to make trading decisions.
AXISBANK--Trading in Channel this stock is trading in a channel
price is still unable to break the supply zone @1100.
if it tries again then definately sellers again push the price downwards,will observe a fallback below the support levels.
wait for the price to breaks the keylevel, to go for shortside continuation.
keyresistance level and support levels are marked.
trendline is pushing the price upwards, this time if price failed to push the price up, price will test the supports at 960 levels and 930 levels.
AXISBANK--@Resistance ZoneThis stock has reached a resistance zone,
which had previously witnessed a significant decline in value.
There was a prior breakout from a bearish channel,
followed by a retracement to channel and another upward move into the resistance zone.
If consolidation happens at this zone, there is a possibility of a liquidity grab on the upside,
indicating potential for a continuation of the trend after a pullback.
keep safe here.
AXISBANK--Consolidation Breakout ??After a long time consolidation price broken the range....
now we have to look at this, will continue down or gives us retracement to enter short.
consolidation to downside, if it is a trap, the price again continue upside...
keep add this stock for long...
AXISBANK--Outlook from 950-830 ??AXIS Bank Outlook::
Strong Supply zone is observed @950 zone
and Strong demand zone is observed @830 zone, keep on sell side from 950 and Buy side from 830-840 zone.
Price is going to enter in consolidation zone...between these 2 levels.
Short Term Bearish view::
950-830 levels..
1st phase Bearish::
from 950-900 is possible..
1st Phase::
Bullish view from 900-930 is also possible::
2nd Phase:: Bearish look
930 level to 860 levels.
3rd phase Bearish look::
910-900 to 830 levels.
3 Phase Bullish From::
860-910 level or 860-900 is possible.
4th phase Bullish from::
830 level to 950+ level..
AXISBANK--Bearish view??Observations::
After a strong fall price is not able to break the previous high,
if price breaks low, price fall is observed up to 900 and 895 levels.
previous resistance may again trying to push the price up, if it fails, it falls more.
keep track axis bank for short side.
AXISBANK--Breakout Range (Supply)??Observations::
In my last view about AXISBANK, broken the trendline and continue fall or rise happens.
Now clearly the rise happens from these levels 870.
Resistance @ 935-940 range.
now The stock price is at Supply zone, price is in range from last 1 week, it will not test the supply zone.
consolidation to fake breakout may happens at this level, keep watch this level.
If price breaks 910 range, observe some fall price reach to 850-860 range.
We have a great support lies in the range 850-860 range.
BUY AXISBANK AROUND 665 TGT 725/780/830 SL BELOW 570 AVG @ 620Currently holding above the 200 and 100 dma and looking to break the resistance line from next week. With the upcoming result session and budget in near sight, good momentum can be expected in the short term with above mentioned entry and exit
AXISBANK-Resumes Uptrend or Reversal???AXISBANK-Observations:
------>Stock trending upwards
-------> Broken Trendline retest is needed.
-------->If this is a false breakdown the trend will continue moving upwards again.
--------->we have a great supports build at 830-850 levels.
---------> Previous strong demand Zone may act as Resistance and pushes the price towards downside, careful at 905-910 range.
--------->keep on buyside we have a chance to enter long until it breaks 830-850 range.
AXISBANK - Long viewPrice has closed above all EMA making way for an upward movement.
The views presented are of the author and do not represent a trade. Kindly consult your financial advisor before investing.
AXISBANK : Intraday levelsAXISBANK levels marked on chart with daily & H & 15 min chart.
Levels are marked on chart for intraday. Follow price action and become Price action chart Specialist.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as its my personal trade.
First Learn and then remove "L"
Giving 2nd opportunity to initiate Long Refer the chart for detailed analysis.........................
Axis Bank Trade Setup Idea for 30 August, 2022Axis bank is one fo the weeker banks today in the BankNifty pack.
It is in the support area but the buy orders at support area were not sufficient to push the price higher.
We can go long after the first 5 minute candle close above 730.
We can go short after the first 5 minute candle close below 721
AXIS BANK - SHORT TERM VIEWLong Above - 710.15, T1 - 735, T2 - 763.75, T3 - 783.85, T4 - 804.45, T5 - 836.40, T6 - 871.15, T7 - 891........ SL - 685
Short Below - 684.80, T1 - 671.30, T2 - 658.65, T3 - 631.85, T4 - 623.15, T5 - 590.55, T6 - 570.45, T7 - 550.10..... SL - 705
Falling Wedge Pattern - Axis BankFalling wedge pattern has been broken by a strong bullish candle in Axis bank in 30 mins TF.
Wait for Re-test and buy between 720 - 722 and Target price is as mentioned on the chart.
This is my view and for educational purpose only.
AXIS BANK - An upward move in processDear Friends,
I will not explain much here as everything has been explained in the chart, so read the chart well and wait for the resistance area to be taken out before initiating fresh long entry.
All the best !!!
Your feedback is most appreciated.
Axisbank - NEoWaveAxisbank is running for the half yearly corrective WAVE-(B), Inside WAVE-(B) it is forming a zigzag pattern, Wave-A and Wave-B of zigzag pattern is finished. Now it is ready for the Wave-C of zigzag. The minmum target of Wave-C of zigzag will be bear 980, Then it may go for 1150, 1500, 1930 and 2300 respectively in case of extended C Wave. Wave-C will be corrective itself and this all will take time because we are checking half yearly wave chart.
AxisbankAxisbank completed a nice symmetrical triangle in wave 4 with all clearly visible subwaves as a,b,c,d,e, and breakout along with good intensity of volume has been done, so now we can presume that wave 5 should have started and can head towards 950 plus in medium term, all other parameters are also supporting this view to go long, all the key levels are mentioned on chart along with stoploss and targets.
breakout with good intensity of volume in daily
wave structure and key levels
macd in weekly uptick and above zero line
macd in daily positive crossover with uptick and above zero line
rsi in daily uptick and above 60 levels
upper bollinger challenged in daily
dmi adx positive ungali setup in daily
bullish mood is active as per emas in daily
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing.
AXISBANKAXISBANK is at resistance and forming 4 tops if it break up side go bullish and get good target i am not suggesting to go short on axis bank
