AXISBANK – Inverse Harmonic completion → Bearish (Jan Option)On the daily chart, AXISBANK has completed an inverse harmonic structure (X-A-B-C-D) and price reacted sharply from the D-point PRZ (Potential Reversal Zone). The rally into D looks like the “final leg” of the pattern and we’re now seeing rejection + loss of bullish follow-through — which keeps the bearish reversal thesis active.
Why this looks bearish (chart confluence)
Harmonic completion at D (PRZ): Pattern completes near a key retracement/extension cluster (your harmonic ratios marked on chart).
Supply zone + rejection: The PRZ aligns with a strong overhead supply region where price struggled to sustain.
Breakdown trigger level identified: The 1246.5 zone is the key “line in the sand” for confirmation (break & hold below / breakdown + retest).
Downside magnet zones: 1123.85 is a major horizontal support area and also aligns with the rising trendline support projection (confluence target).
Trade Plan (as per chart)
✅ Entry trigger (wait for confirmation)
Entry: Below 1246.5 (preferably daily close below, or breakdown → pullback retest → rejection for cleaner entry)
🛑 Invalidation
SL: 1262.1 (keep it strict — if price reclaims and holds above, the breakdown thesis weakens)
🎯 Targets
Primary Target: 1123.85
(Optional trade management) Consider partial booking near psychological / minor supports on the way down (to reduce risk), then trail for the main target.
How I’ll manage it (practical execution)
If price breaks 1246.5 impulsively, I prefer not chasing. I’ll wait for a pullback to 1246–1250 and look for rejection.
If we get a weak bounce but price stays below 1262, the structure still favors sellers.
Once price starts moving in favor, reduce risk quickly (trail SL / partials), because banking stocks can snap back fast.
Jan Options Idea (if you’re planning options)
Bias: Short setup = Put-side view
Prefer ATM/ITM puts for better delta (less decay pain than far OTM).
Conservative approach: Bear Put Spread (reduces premium + theta pressure), hold for the swing toward 1123 zone.
(This is based purely on the technical setup shown.)
Levels on chart:
Entry: 1246.5 | SL: 1262.1 | TG: 1123.85
I am not a SEBI-registered analyst. This idea is shared purely for educational and study purposes. Please do your own analysis or consult a certified financial advisor before taking any trades.
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