Axisbanklong
AXISBANK- 240 MINS TIMEFRAMEHi there,
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
Axis Bank Trade Setup Idea for 30 August, 2022Axis bank is one fo the weeker banks today in the BankNifty pack.
It is in the support area but the buy orders at support area were not sufficient to push the price higher.
We can go long after the first 5 minute candle close above 730.
We can go short after the first 5 minute candle close below 721
Axisbank - NEoWaveAxisbank is running for the half yearly corrective WAVE-(B), Inside WAVE-(B) it is forming a zigzag pattern, Wave-A and Wave-B of zigzag pattern is finished. Now it is ready for the Wave-C of zigzag. The minmum target of Wave-C of zigzag will be bear 980, Then it may go for 1150, 1500, 1930 and 2300 respectively in case of extended C Wave. Wave-C will be corrective itself and this all will take time because we are checking half yearly wave chart.
AxisbankAxisbank completed a nice symmetrical triangle in wave 4 with all clearly visible subwaves as a,b,c,d,e, and breakout along with good intensity of volume has been done, so now we can presume that wave 5 should have started and can head towards 950 plus in medium term, all other parameters are also supporting this view to go long, all the key levels are mentioned on chart along with stoploss and targets.
breakout with good intensity of volume in daily
wave structure and key levels
macd in weekly uptick and above zero line
macd in daily positive crossover with uptick and above zero line
rsi in daily uptick and above 60 levels
upper bollinger challenged in daily
dmi adx positive ungali setup in daily
bullish mood is active as per emas in daily
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing.
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 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
Axis Bank long -- Strong BullishAxis bank last week has given a breakout and again came for testing the trendline. Today share opens below the major support and the Bulls taken control of their territory and pushed up the price and close above the trendline with high volume. I have given other observations and studies on the chart. kindly refer.