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AXISBANK

AXISBANK--Near Its Demands??This stock is bullish from long term. we have to look for buying opportunities to continue in the trend. if we see trendline is acting as support multiple times at bottom side... on the topside we have dynamic resistance in the form of trendline. when price takes the support again from the bottom side trendline, we will go for buying, when price breaks the topside trendline and retest. we have a lot of liquidity is lies below the trendline on bottom side. If price takes all the liquidity then an immediate entry is placed at 960 to 920 levels. Look for buying opportunities in this stock.
NSE:AXISBANKLong
by IIT-Trader
5
Axis Bank: Preparing to Break Resistance – A Rally in the MakingCurrent Price: ₹1,142.40 (+0.29%) Axis Bank is consolidating near its Golden Retracement Zone (₹1,098 - ₹1,112) after breaking out of its Previous CHoCH Zone (Change of Character). It is also testing a trendline resistance, with potential for a breakout rally toward supply mitigation levels. Key Levels: Buy Zone: ₹1,112 - ₹1,143 (Golden Retracement Zone) Stop Loss: ₹1,098 (on a daily close below the retracement zone) Target 1: ₹1,280 Target 2: ₹1,303 - ₹1,326 (Supply mitigation zone) Key Observations: Golden Retracement Zone: Acts as a strong support for a bounce. Trendline Breakout: A successful breakout above the resistance line may lead to sustained upward momentum. Supply Zone: ₹1,303 - ₹1,326 is the next key level to watch for profit booking. Disclaimer: This analysis is for educational purposes only and is not financial advice. I am not a SEBI-registered analyst. Please do your own research or consult a financial advisor before making any investment decisions.
NSE:AXISBANKLong
by LiveTradingBox
Axis Bank Technical Analysis: Cautious Outlook Near Key Support Axis Bank is currently trading near a crucial support level at approximately ₹1120, significantly below its all-time high of ₹1340. Recent price action within a range of around ₹1133 indicates a period of consolidation. Bearish Scenario: A decisive break below ₹1120 would be a bearish signal, potentially triggering a further decline towards ₹1080. Market Context: It's vital to consider the broader market. Both Nifty and Bank Nifty indices are also trading near their support levels, suggesting a potential market-wide rebound. This adds a layer of uncertainty to the Axis Bank outlook. Bullish Scenario: Conversely, a sustained move above the resistance level of ₹1200 would signal a significant shift in momentum, potentially initiating a rally. Recommendation: Given the current market dynamics and Axis Bank's proximity to key support, we recommend a cautious approach. Investors should closely monitor price action and volume before making any significant trading decisions. A break above or below the key levels, accompanied by strong volume, would provide greater confirmation of the prevailing trend.
NSE:AXISBANKLong
by ayushishri