AXB trade ideas
Axis Bank Do or Die zoneAxis Bank Stock Is trading at a very important level right now.
Price is at the Trendline on weekly time frame.
Stock is already down 67% from its all time high and 27% today.
If this level Breaks, we could see 220 next as classic 0.786 Retracement Support.
AXIS BANK BULLISH BAT FORMATION AT MARKET BUY OPPORTUNITYAXIS BANK STOCK IS TRADING NEAR LONG TERM SUPPORT ABOVE INR 450 LEVEL. STOCK HAS FORMED BULLISH BAT FORMATION AT SAME SUPPORT LEVEL ON DAILY AND WEEKLY CHART. WHICH GIVES GREAT OPPORTUNITY TO BUYERS AT SUPPORT LEVEL WITH CONFIRMATION OF HARMONIC PATTERN. SINCE IT IS DAILY AND WEEKLY FORMATION TRADE CAN TAKE ABOUT 3-4 WEEKS TO EITHER HIT TARGET OR STOP LOSS.
BUY ENTRY: INR 490 (CAN BUY AT MARKET)
STOP LOSS: INR 398
TARGET-1: INR 595
TARGET-2: INR 683
AXIS BANK STRUCTURE BASED COUNTER TREND BUY OPPORTUNITYAXIS BANK STOCK IS TRADING IN DOWN TREND MAKING LOWER LOW LOWER HIGHS. AFTER MAKING IT'S LIFE TIME HIGH, STOCK TOOK LAST SUPPORT AROUND INR 760 LEVEL WHICH BECOMES RESISTANCE ONCE BROKEN TO DOWNSIDE ON 15-JULY-2019. THAT LEVEL OF INR 760 BECOMES STRONG RESISTANCE, WHICH STOCK TESTED SEVERAL TIME BETWEEN NOV-2019 TO FEBRUARY-2020.
NOW STOCK IS TRADING NEAR INR 625 LEVEL WHICH IS PAST SUPPORT MARKED BY GREEN BOX. WE CAN LOOK FOR COUNTER TREND BUY OPPORTUNITY IN LOWER TIME FRAME TO GO LONG WITH THE TARGET OF INR 695 TO INR 708 (RETEST OF PAST SUPPORT BROKEN ON 02-MARCH-2020). STOP LOSS SHOULD BE INR 10 BELOW LAST STRUCTURE HELD IN LOWER TIME FRAME.
Axis formed bullish bat on daily chartAxis bank formed bullish bat harmonic pattern on daily chart with PRZ 640-650
Target as per fibbo levels
AXIS BANK DailyBullish BAT
Price stopped at confluence of WEEKLY BAT BULLISH(Red colour Rectangle) + Daily BAT Zone
Volume lower than previous 2 candles with NO SUPPLY
POTENTIAL BUY
AXIS BANK WeeklyBullish BAT
Strong Resistance with confluence of Trend line & BAT Reversal zone
HIGH VOLUME Bars
AXISBANK WEEKLYBullish BAT
Strong Resistance with confluence of Trend line & BAT Reversal zone
HIGH VOLUME Bars
Axis bank shorting position - long tradeHello,
This is the positional shorting view on AXIS bank...
Chart image is self explained for the position.
Regards,
Satish Haryan
AXIS BANK BULLISH BAT BUY TRADESTOCK HAS BEEN ON SIDEWAYS SINCE NOVEMBER-2019. WHICH GIVES OPPORTUNITY TO TRADE HARMONIC PATTERNS.
BULLISH BAT
BUY ENTRY: INR 703
STOP LOSS: INR 687.10
TARGET-1: INR 723.45
TARGET-2: INR 737.65
PRZ @703DISCLAIMER :
As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Not every idea is a valid trade.
This analysis is a trading idea, not a trading signal for you.
My own trend direction estimation, entry point, stop loss and take profit levels are on the chart.
Good Lucks.
Axis Bank - Bullish Bias - Can buy at current levels.Axis Bank - Bullish Bias - Can buy at current levels.
Daily Chart of Axis BankDaily Chart of Axis Bank:
On daily chart the stock is moving in tight range of 60-70 Rs. The stock is holding the support zone of 590-600 levels and facing stiff resistance around the zone of 660-670 levels since the month of November-2019. Break out on either side will decide the further trend in the stock.
0001 Axis BankClassical Chart Pattern: Rectangle
Previous Trend: Bulish
Above: 200 EMA
Remark:
Breakout above 760
Traget 820
Axis Bank OutlookAxis Bank results today if negative then can open up range of 680-670. if results are positive can open range of 735-755
Axis Bank Bullish ViewShark & Alt Shark is being formed in Axis bank.
Chart is shared for educational purpose.
AXISBANKTriangle in one hour, and also its in time wise correction or box correction in daily time frame
