AXIS BANK LTDLong
AXIS BANK buy tgt 700 and above
Updated
axis bank structure is strong, since all the major indices are bouncing back nifty bank is one of the index showing a move ahead above 35000 mark.
axis bank will be one of the participant in this rally of bank nifty.
price setup:
axis bank is trading above its short term ema and above 50sma range. and can achieve the target above 700 to 720 near the 2hours 200ema.
indicators:
RSI - is strong and rising,
ADX- is greater the 20 and +DI is also confirming the trend and can conclude the momentum exists in the favour of bull,
williams %r: it is indicating that the trend can sustain above the range and can stay in the position.
to do:
buy near 670 to 675
stop loss 659.5
target - 694 / 700 / 720
axis bank will be one of the participant in this rally of bank nifty.
price setup:
axis bank is trading above its short term ema and above 50sma range. and can achieve the target above 700 to 720 near the 2hours 200ema.
indicators:
RSI - is strong and rising,
ADX- is greater the 20 and +DI is also confirming the trend and can conclude the momentum exists in the favour of bull,
williams %r: it is indicating that the trend can sustain above the range and can stay in the position.
to do:
buy near 670 to 675
stop loss 659.5
target - 694 / 700 / 720
Note
stop loss was kept below crucial support and the same zone was physiologically strong support zone.
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