AXISBANK trade ideas
AXIS BANK 30mnBEARISH Shark@1.13XA as PRZ ..Clearly when considered Shark@1.0XA as prz hit both Targets
BLACK HORIZONTAL LINE is WEEKLY RESISTANCE Pattern completed at this level so strong zone
Horizontal BLACK DOTTED lines r High & Low of ULTRA HIGH Volume CANDLE .Vertical dotted line is ULTRA HIGH VOLUME i.e SMART MONEY
ULTRA HIGH VOLUME for going SHORT we need LOW VOLUMES in the area of ULTRA HIGH VOLUME BAR. as High volume shows interest to the upside from “Smart Money” so prices may go higher.
SET UP BECOMES VALID ONLY when RSI is below 70 and IF Price breaks ULTRA HIGH VOLUME Candle LOW with LOW VOLUMES & with NO DEMAND l.e place for short
POTENTIAL SELL
AXISBANKNSE:AXISBANK
It has broken its downside support, now below 415 if it sustains get ready for 402 and 390.
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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AxisBank - IntradayMultiple harmonics pattern converging in the same range.
Short in the range 490 - 495
SL 507
Potential Target 480,473,467
Highest OI at this moment on upside is 500 CE followed by 480 CE
Disclaimer: I am not a SEBI Registered Analyst. This is for educational purpose. Please take position after consulting your advisor.
AXIS bank : Triangle correction/ Range Bound.AXIS:
* In process of wave ((4)).
* Could be a triangle or flat correction.
It may retest 350 if it is flat correction.
It will be in range bound of 400-480 if it is a
Triangle.
* Buy Happens only above 480. Above 480 we may see the range of 560-590.
Below 400 we may see 330 and even more.
AXIS BANK-Only if it comes to 400 Split your Entries in BUY...Market Commentary:
LEARNING ELLIOTT WAVES IS LITTLE BIT TOUGH (FOR ME IN BEGINNING) BUT I TOOK IT AS A CHALLENGE AND THAT IS NOT IMPOSSIBLE ALSO...
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and again go with the trend....DONT TRADE THE COUNTER TRADE SETUP...you will took loss too...try to identify the short term pull back and the long term pull back after that took small lots in the short term PB with strict stop and go with big lots in the trend side that is long term. I WONT TOOK ALL THE TRADE PLAN SHARED HERE...
Read the market commentary inside the chart what i shared here carefully and try to learn Elliott waves...otherwise its tough to understand the market commentary and my analysis. I wont give a entry, stop loss and take profit in my chart...it is only for EDUCATIONAL PURPOSE and i am sharing how i am analyzing the pair and labeling them according to the Elliott wave theory...I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON'T FOLLOW BLINDLY MY CHART..take this as a reference and if it correlate to you strategy took the trade as per your strategy...DON'T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP.
My style of trading is different from others and I WONT PLACE A STOP...but ALL MY TRADES ARE UNDER MONEY MANAGEMENT ACCORDING TO MY ACCOUNT SIZE...i wont close the trades even in the BIG NEWS EVENTS OR SCHEDULED NEWS TOO...i am technical analyst based on trendline, channel, fib retracements, expansion, stochastic for divergence, EMA's and MA's are finding the pull backs and MAJOR IS ELLIOTT WAVES...those mentioned past are using as a TOOLS only. I am not a fundamental, sentimental trader...but only the fundamental will boost my technical analysis to reach my target or sometimes it will go against me and then i will manage the trade according to the Elliott waves alternate views...
Each and every trade plan i am sharing here has a alternate view and i am sharing only the most probabilities(70-80%) here...sometimes the other (20-30%) may market do..then i will change the wave counts and labeling according to the price action. All labeling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So dont bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS