We are seeing fresh high now days. In this situation, the best way to trade in direction and intraday trading. Without confirmation of downtrend, Short selling and put is not good for trading.
Don’t Panic, We will sure catch this time if downtrend start.
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Technical view on AXISBANK: According to technical view RSI and MACD both are indicating for selling, and also it is on long-term resistance is following.
Resistance nearby 636 and 643 can be expected heavy selling. Target can be expected first target 612 nearby, and 2nd target: 602 to 597.
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After a long time, We’re going to update stocks and indexes here on a regular basis. Now here is the chart of NIFTY future for “Smart traders, should be sit on their chair for while”.
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The downside is well protected by the horizontal level around 177 which can now be expected to act as support again. The major support level around 182 to 177 which was tested as support over the past five months. The major target near 217 in sight, with intermediate resistance to be expected around 202. The RSI Momentum line moved below buying zone and MACD is indicating to buy. So according to technical view, buy from 182 to 177 and Selling target will be 202 to 217.
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As per our past updated, We have mentioned Resistance 10947 which here : we had not taken any position over the short selling side. According to our last researched, we are till in patience. Now we’ve found new DURABLE resistance as showed in the chart at 11124 nearby.
Today, We have seen gap up and Average True Value is also on support. When you see ATR. At support, we found big on nearby. Now Question, What to do! Answer, you have to keep patience OR try to enter into PUT… Which STRIKE Price… 10800/10900.
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Nifty is now trading near the resistance and presently all technical indicators are also in positive direction. But we are waiting for selling zone ie. (resistance) 10,915 to 10,930 and support is 10,755 to 10,737.
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