AXISBANK trade ideas
Axis Bank - Will move according to market sentimentsAxis bank gave a false breakout on 7th July. One who bought on the breakout must not have considered upper trend line resistance(Red).
Today it has given breakdown by breaking short term trend line(blue) and not it has sitting comfortably on support zone.
If tomorrow(15th July) market sentiments are positive then it will surely move upwards to test 430 levels else if nifty trades in red then it will test 400 level and in the coming days it will fall down till long term trend line(gray).
Rising Wedge Pattern for Axis BankRising Wedge Pattern is prominent on the Axis bank chart and can bring the stock down to the previous level of 333 again.
AxisBankBuy AxisBank using three Trend lines yellow, green and red trend lines . Buy at 441.80 price .Target of 489 around 10% . Stop Loss is the red line around 1.39% @ If it starts breaking the red trend line . You can also take a Short Position . Then it can go Down. Also RSI there seems more room for upward movement. For risk of 1.39 % there is an upside of 10%
AXISBANK- LONG (Positional)My Long trade on Axisbank is active (its a positional trade for a week or maybe more)
Entered 1 Lot in FUT when spot CMP was 536.5 (Present CMP is 536.5-536.7)
SL is below 530.7 (6 Points)
TGTs: 460/475/500
This was discussed in the video I had posted yesterday on my views.
Everything is in the video on why I carried out the trade. Please check.
Link: www.youtube.com
Axisbank cooking the flameAxis bank is into consolidation and it seems that another pot hole is to be tasted by the stock.
Long above 486 #Nifty #AxisWeekly resistance at 485 , any long position only after 486 level, good volume support.
Positional: BUY Axis Bank above 450, SL 444 Target 458,462+BUY Axis Bank above 450, SL 444 Target 458,462+
Axis Bank : Triangle Breakout Next banking stock to start its run .
Watchout for the closing ....10-15% run possible
Call OI in Axis Bank
1,329,600 420
1,388,400 440
1,558,800 450
1,813,200 460
Any closing above 460 today will trigger short covering.
Axis Bank Ltd (Axisbank - NSE) - Choppy to bearish price actionAxis Bank Ltd (Axisbank - NSE) is in corrective mode. It completed ABC sequence up as predicted in last updates. Now it starts correcting either ABC move, or C wave can extended as two options available in wave counts. As price is under-performer to Nifty, the first option is looks obvious on chart. It is going down in c wave in abc zigzag down of X wave, so can be good sell with stops of 441 as invalidation level for target zone of 395-90.
Axis Bank on a strong Trajectory !Axis bank seems to be on good strong trajectory after it has recently filled up the downfall in lesser than the duration of the fall. The recovery not only showed the strength but also builds confidence that the stocks fails to move down even the big red candle with high volume. Stock was able to lift the price beyond it and now is trading in range bound fashion with rising triangle type patter on daily. However the important thing is that we see good volume with price rise and POC being a crucial level which the price tested and respected. Stay tuned to witness the spurt.
Axis Bank Intraday view and levels for 5th of Jun 2020 #axisbankAxis Bank Intraday view and levels for 5th of Jun 2020
#axisbank #axisbanklevels #intradayaxisbanklevels #intradaylivetrading
