After a brief up trend Axis bank is in accumulation zone between 530 to 480 for more than two months, as we know no one can time the market but either way the breakout will be big.As the trend is bullish I am looking for a long trade in the following scenario,
Buy near 500 - 490 levels as per ones comfort with stop loss @478 for the target 575 R:R 1:3 and 1:6 (Can take 480 PE for much better R:R and if Axis closes below 480 can hold PE with cutting losses in future with SL: 490)
Disclaimer: This is my personal view.Not to solely influenced by this please do analysis from your side to have a better perspective for your trade.
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those catch at 500 level can book part here and hold rest with SL : 515 its likely to give breakout with volume but don't wanna predict the market, need a close above 525
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for low risk TSL: 421
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volume should rise from here else 540 is a concern TSL:525, can book once near 538