On daily charts Axisbank forming bearish butterfly zone. Stoploss and target on graph. Seeing no big difference in forming stoploss with 2 ATR.
Validating short term pattern and next day opening. T1,T2 ARE depicted as two trades.
Trade initiation and stop loss with both short and long in the graph. either side 1$ with 60c risk.
With warning and observation purpose: not well formed. target after 1/3 to 2/3.
We may get high of longer term PRZ 727 with this lower time frame bluish bat formation. target 1 / stp in graph. target 2 727.
While not satisfying all ratio for butterfly, still PRZ warming for a whole day towards bearish move resulting moving average also to respond with signal. Enter short 303 target 296 with stop 307.
Symmetric triangle at apex. Second time with in YTD. Upon downside breaking can target to 1030 and upside 1220. Stop loss place just outside triangle. Straddle may prove to be cost effective.