This is the trading plan for Axis bank.
Share is moving in up trending channel, price has broken structural highs on daily chart. Shorting such up trending share will be risky. Supply zone, Momentum Indicator, Gann line and candle stick analysis to take short or long trade.
If we close above current supply zone the one can long share keeping the next...
CURRENTLY PRICE IS IN UPTREND AND ITS NEAR 78.6 FIBB LEVEL ONCE PRICE TOUCH 78.6 FIBB LEVEL I WILL SHORT DIS STOCK COZ THERE IS HUGE CHANCE TO PRICE CAN REVERSE FROM THERE. ENTRY STOP LOSS AND TARGETS GIVEN ON CHART.
HIT LIKE IF YOU AGREE WITH MY VIEW AND FOLLOW ME FOR MORE UPDATES AND IDEA'S, I REALLY APPRECIATE THAT.
TRADE WITH CARE
REGARDS
KING999
AXIS Bank is currently at the resistance of the trend channel.
Expecting a pull back to mean revision
RSI at triple top,
which can also be considered at divergence
as prices have made higher high.
Amid general murky environment for bank stocks, Axis Bank stock has been impressive with 100 % retracement from the lows near 375 / 400 area to the greater resistance zone of 525. SBI and ICICI bank are still scrapping the floor while Axis Bank is so ebullient. But SBI and ICICI has their own problems to deal with because of bureaucratic interference. Their...
ON WEEKLY CHART THERE IS STRONG RESISTANCE AT 506 RUPEE AND ALSO THERE IS LONG LEG DOJI CANDLE.ENTRY STOP LOSS AND TARGETS GIVEN ON CHART.
HIT LIKE IF YOU AGREE WITH MY VIEW AND FOLLOW ME FOR MORE UPDATES AND IDEA'S ,I REALLY APPRECIATE THAT.
TRADE WITH CARE
REGARDS
KING999
Axis is trading in the channel breaking which on either side would trigger long or short position accordingly
Similar goes with Banknifty. Actually axis & banknifty chart are by & large mirror of each other
Axis is currently trading in oversold levels & will certainly go up from this level if u have any doubt check how price fall once it went above upper channel
