Recently Axis Bank has completed a bearish bat setup and it has finally started its retracement.
According to my setup, target 1 =504 with SL=526.25
You could re-enter the trade with target 2 = 491.6 with SL=516.6
You could enter the trades by shorting futures or by shorting AxisBank Sep 530PE
Please consult your trade advisor before entering the setup
Recently Axis Bank has completed a bearish bat setup and it has finally started its retracement.
According to my setup, target 1 =504 with SL=526.25
You could re-enter the trade with target 2 = 491.6 with SL=516.6
You could enter the trades by shorting futures or by shorting AxisBank SEP 530PE
Please consult your trade advisor before entering the setup
Axis Bank seems to be in a Zig Zag Correction where the last move to the upside is expected to happen tomorrow. There is also a bullish divergence on the MACD. We have just finished the B wave (the 3 wave ABC) after a 5 wave up, which means the next set of 5 sub waves to the upside could happen now, completing the 5-3-5 pattern of the Zig Zag. Short term upside, ...
bullish butterfly formation in the works on AXISBANK daily chart. from here the price may either retrace to a higher AB leg and then come down to the D point , or it may simply break B lows ... time to wait and watch
Chart of Axis Bank is suggesting weakness in stock price in coming days. Stock has closed below all short and long term moving averages. Additionally RSI and ADX has given negative divergence on both daily as well as weekly charts.
One can initiate short position on stock between 483-487 levels with stop loss of 521 (last up swing move) for target of 450 in ...
