AXISBANK is it ready to go UP??AXISBANK: formed ascending triangle with price pushed to apex. Is it ready to go UP?
AXISBANK trade ideas
AXIS BANK - Inverted Head & ShoulderFacts that Supports upward movement : -
i) High Volume and Inverted H& S pattern on verge of breakout
ii) Increase in earnings
iii) Decrease in Gross & Net NPAs.
iv) Target 900-920 suggested by brokerage houses.
v) FPI/FII increased holding from 51.02 to 51.43% in March 2021 qtr.
vi) Reduction in covid cases and normalisation in situation.
Facts against upward movement of price : -
i) The lockdown from April onwards may result in less profits for this quarter.
ii) Promoters decreased holding from 13.93 to 13.58 % in March 2021 qtr.
iii )Mutual Funds decreased holding from 13.93 to 13.58 % in March 2021 qtr.
iv) Volume although high is lesser in the right shoulder pattern.
AXIS BANK DAILY Confluencee of MONTHLY, WEEKLY Bearish Bat & DAILY BEARISH ALT BAT ZONE...STRONG REVERSAL ZONE
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL SELL
AXISBANK WEEKLY Confluence of MONTHLY & Weekly BEARISH BAT strong potential reversal zone
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL SELL
AXIS BANK MONTHLY Bearish BAT
VERTICAL DOTTED LINE is Ultra high volume up bars - trap of Smart Money
Higher volume- Professionals are selling into the public buying
from Bat Completion point D Narrow spread Bars indicates no professional buying & low volume shows Professionals have no interest to the upside , waiting for NO DEMAND bar to short
POTENTIAL SELL
Axis bankTook support near 200 EMA and bounced with reasonable volume indicating early signs of up move.
Break and retest of marked trendline will confirm the up move.
Just for education.
Axis BAnkAxis Bank has heavy support if bank nifty index bullish then also bullish axis bank on Wednesday and high probably chance to bank nifty open in bullish
breakout after a consolidation here we can see a good consolidation forming on the resistance level which means the sellers are getting weak so this could result in a good breakout. best of luck
Axis_bank_intradayWEdge breakout and so expecting this move eventually. Chk it out. Lets see the outcome
Axis Bank only for education purpose.
and if you trade the remember stoploss is your best friend .
Disclaimer: The above is shared just for educational purpose and is my personal view.
By no means shall I be accountable for any debits/losses amounting out of it.
I am not a SEBI registered Analyst, so please consult your Investment Advisor and take rational decisions
AXIS BANK Swing TradeAXIS BANK is forming a triangular pattern as well as inverse head & shoulder pattern. Price is expected to reach above 760-770.
