inverse head & shoulder pattern. good results are expected based on ICICI bank. for education purpose only
Facts that Supports upward movement : - i) High Volume and Inverted H& S pattern on verge of breakout ii) Increase in earnings iii) Decrease in Gross & Net NPAs. iv) Target 900-920 suggested by brokerage houses. v) FPI/FII increased holding from 51.02 to 51.43% in March 2021 qtr. vi) Reduction in covid cases and normalisation in situation. Facts against upward...
AXIS BANK: 22 AUG 20 : STRONG SUPPORT AND RESISTANCE AREA.
WE SEE A TRIANGLE PATTERN TODAY IF IT BREAKOUT THEN EXPECT A GOOD MOVE
breaking out trendline with rsi bulish..... NSE:AXISBANK also breaking channel don't miss opportunity
Descending Triangle on 1H = Bearish 1. SHORT if goes below 758 Target 743 SL 771 2. If on market open it is positive but weak short around 768 Target 743 SL 774
We can see AXIS bank almost reached the so called resistance level or supply zone. We could see a short term sell here.
We should get to ~5000 by 2022. So far, this consolidation has been extremely bullish
More pain in store . once 505-500 is taken out best is to enter at 475 . Has big resistance at 530-551 levels. stockdada.com
Based on my analysis BUY at this area, to a target of 551
AXIS BANK has hit previous high. Good Possibility of going down. Short is the call ***Idea Is Publish only for Educational Purpose***
Short Axisbank 636 . Its highly overbought I would ideally short in Options rather than future . Over next 1 week or so it should stabalise around 620 Levels where one can do profit booking in options . also time decay will also fetch good money. Its a risky trade. Against the trend. Sell Axis bank 620 CA at 28 Rs Trade with caution.