AXISBANK
AXIS BANK - Inverted Head & ShoulderFacts 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 movement of price : -
i) The lockdown from April onwards may result in less profits for this quarter.
ii) Promoters decreased holding from 13.93 to 13.58 % in March 2021 qtr.
iii )Mutual Funds decreased holding from 13.93 to 13.58 % in March 2021 qtr.
iv) Volume although high is lesser in the right shoulder pattern.
AXISBANK LONG INTRADAY 24 MAY,2021Dear trader,
If u look at the chart of AXISBANK (analysis based intraday only) the AXISBANK Buy at 730 and Target at 745
Best Buy at 728.
Our Best Buy is based on high quality research and when the instrument reaches this level , it’s a jackpot trade.
Best Buy level might be executed or might not be executed.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more indepth analysis.
In Intraday most important thing is to enter and exit points.
Our signals are based on analytics, algorithms, mathematical derivatives.
Always be a responsible trader, kindly trade only when you have maximum opportunity in the market with minimum risk and with keynotes like data, analysis and proper strategies.
Kindly message us for strategies and analysis.
Axisbank Axisbank looking in Bullish impulse started
One can go Long now or in dips with stoploss of 704
All the key levels are mentioned in chart with Stop-loss and Targets.
Head and Shoulder Pattern Neckline Breakout
Impulse Started
Macd in daily time frame positive and Uptick
Macd in hourly time frame positive and Uptick
Rsi in daily at 59 along with Uptick
Rsi in hourly above 60
Upper Bollinger Challenged in Hourly
DMI and adx positive attitude
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
Bullish Reversal On Weekly Chart Of Axis Bank.NSE:AXISBANK
Last week (17th May 2021) closing of AXISBANK weekly candle indicating good reversal or one can even say beginning of up move after retracement.
If we get any follow through to this weekly candle even on daily chart its will be good confirmation for AxisBank to be making new lifetime high.
For short term or long term investors AxisBank have good support near 560-530.
As far as targets are concerned I always prefer to use Fib Extension tool when there is no background remain for any stock. And as per Fib Extensions level of 1.618 AXISBANK may reach 1270 within a period of 3-6 months.
Thanks for Reading and sorry there is not much to say in this chart. Its looks too simple.
|| Hari Om ||
AXIS BANK :: BULLISHDATE: 19 MAY 2021
INSTRUMENT: AXISBANK
TREND: BUY
TIME FRAME: day
CMP: 716.80
BUY ABOVE: 725
STOP LOSS: 700
TGT 01: 760
TGT 02: 790
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.