Axis bank has been in the consolidation phase for more than 15 months. Prices fall rapidly after the crossover of 50 & 200 EMA. We can draw two control lines, which can be helpful for target measurement.
If the price enters into the parallel channel, and after retracement sustains above 680, traders can trade for the following target of 692 – 714 – 752. Demand pressure can lead to the price at the upper band of the parallel channel.
Note that, Failure of sustainability above 680 may lead to a new low. I will update further information for premium subscribers soon.
Special offer on NSE Plans: Click Here →
Limited Time – You might not get a second chance.
Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips
Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
I will take a position on this after the confirmation, let’s see how the trade spans out in the coming days
good short term pick
I love these kinds of chart analysis.
Sir apko HDFC bank me kya lagraha he?
We will update it soon.
If I buy NSE annual plan in this offer then can I upgrade it later?
No. You cannot upgrade it.
Email at [email protected] for any further inquiries related to NSE plans.