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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
Axis Bank - Ready for next life time highThis stock trades with steady volumes on the bourses in all time frames. Similarly, it is in the oversold zones of oscillators in average time frames. The 52W H/L being INR 1,151.85 / 814.25 It is consistently making Higher Highs and Higher Lows. It is standing around its support level in a rising channel. LTP on NSE on 06/Feb/2024 was INR 1,053/- (with a high of INR 1,096.20) It has already reached its demand zone and conservatively even if it falls from the current level to INR 1,000, it will be a good buy INR wherefrom it bounced back to reach its lifetime high. After all this discussion, I believe the target price should be INR 1,300-1,400. Stop Loss should be INR 900 Risk to Reward will be 1:4 The time horizon should be 9-12 months
NSE:AXISBANKLong
by Hobbytopassion_ManishJain
Axis Bank (ticker: AXISBANK) ForecastThe chart provided is a daily candlestick chart for Axis Bank (ticker: AXISBANK) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart: Timeframe and Data: - Timeframe: Daily - Data Range: From around September 2023 to mid-2024 Price Analysis: - Current Price: ₹1,174.00 - Price Movement: The stock has shown notable price movements over the period. - The price had a significant rally from around ₹900 in October 2023 to a high near ₹1,225 in early 2024. - Post the high, the stock has been in a consolidation phase with a downward trend, forming lower highs and lows. Technical Patterns and Indicators: - Descending Channel: The stock price has been moving within a descending channel from the high in early 2024. - Upper Trendline Resistance: Around ₹1,182 - Lower Trendline Support: Around ₹1,106 - Fibonacci Retracement Level: Applied from the recent swing high to low. - 0.618 Level: ₹1,152.90 - 0.5 Level: ₹1,143.90 - 1 Level: ₹1,182.05 Key Levels and Future Projections: - Resistance Levels: - Immediate Resistance: ₹1,182.05, which aligns with the upper trendline of the descending channel and Fibonacci level. - Major Resistance: ₹1,228.80, which is close to the previous high. - Support Levels: - Immediate Support: Around ₹1,143.90 to ₹1,152.90 (Fibonacci levels). - Major Support: Around ₹1,106, aligning with the lower trendline of the descending channel. Trade Setup: - Bullish Scenario: If the price breaks above the immediate resistance at ₹1,182.05 and sustains above this level, it could potentially move towards the major resistance at ₹1,228.80. - Bearish Scenario: If the price fails to break above the immediate resistance and moves below the Fibonacci support levels (₹1,143.90 - ₹1,152.90), it might test the lower trendline support around ₹1,106. Conclusion: The chart for Axis Bank shows the stock in a consolidation phase within a descending channel following a strong rally. Key levels to watch include the immediate resistance at ₹1,182.05 and the Fibonacci support levels. A breakout above ₹1,182.05 could signal a bullish move towards ₹1,228.80. Conversely, failure to break this resistance and a move below the Fibonacci support levels could indicate a bearish trend towards ₹1,106. Traders should look for a confirmed breakout in either direction to make trading decisions.
NSE:AXISBANKLong
by The90sTraderOfficial
1
AXISBANK (Axis Bank Limited) - Swing TradeClosing Price: ₹1,165.25 Change %: 3.49% Volume: 12,818,081 High: ₹1,169.65 Axis Bank has shown an impressive gain of 3.49%, reaching a high of ₹1,169.65. The substantial volume reinforces the bullish trend, indicating strong buying pressure. Such a breakout performance often precedes further price appreciation, making AXISBANK a strong candidate for a swing trade. Kindly conduct thorough analysis and consider market conditions before making any trading decisions.
NSE:AXISBANKLong
by ruelfernandes
AXISBANK--Trading in Channel this stock is trading in a channel price is still unable to break the supply zone @1100. if it tries again then definately sellers again push the price downwards,will observe a fallback below the support levels. wait for the price to breaks the keylevel, to go for shortside continuation. keyresistance level and support levels are marked. trendline is pushing the price upwards, this time if price failed to push the price up, price will test the supports at 960 levels and 930 levels.
NSE:AXISBANK
by IIT-Trader
2
AXISBANK--Breakout or Breakdown??Keep in long side until price breaks the trendline... ---------------------------------------------------------------------------------------------------- I am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support
NSE:AXISBANK
by IIT-Trader
2
AXISBANK--Outlook from 950-830 ??AXIS Bank Outlook:: Strong Supply zone is observed @950 zone and Strong demand zone is observed @830 zone, keep on sell side from 950 and Buy side from 830-840 zone. Price is going to enter in consolidation zone...between these 2 levels. Short Term Bearish view:: 950-830 levels.. 1st phase Bearish:: from 950-900 is possible.. 1st Phase:: Bullish view from 900-930 is also possible:: 2nd Phase:: Bearish look 930 level to 860 levels. 3rd phase Bearish look:: 910-900 to 830 levels. 3 Phase Bullish From:: 860-910 level or 860-900 is possible. 4th phase Bullish from:: 830 level to 950+ level..
NSE:AXISBANK
by IIT-Trader
AXISBANK--Breakout Range (Supply)??Observations:: In my last view about AXISBANK, broken the trendline and continue fall or rise happens. Now clearly the rise happens from these levels 870. Resistance @ 935-940 range. now The stock price is at Supply zone, price is in range from last 1 week, it will not test the supply zone. consolidation to fake breakout may happens at this level, keep watch this level. If price breaks 910 range, observe some fall price reach to 850-860 range. We have a great support lies in the range 850-860 range.
NSE:AXISBANK
by IIT-Trader
AXISBANK-Resumes Uptrend or Reversal???AXISBANK-Observations: ------>Stock trending upwards -------> Broken Trendline retest is needed. -------->If this is a false breakdown the trend will continue moving upwards again. --------->we have a great supports build at 830-850 levels. ---------> Previous strong demand Zone may act as Resistance and pushes the price towards downside, careful at 905-910 range. --------->keep on buyside we have a chance to enter long until it breaks 830-850 range.
NSE:AXISBANKLong
by IIT-Trader
axis bank is looking good with a great entry pointthere is a very good entry point in axis bank as it has completed it's wave cycle there is a very good chance that it can start a new wave cycle from here and if that is so then axis will not go below 846 on a closing basis so there is a very good risk reward trade here target will be around 910 ,915 not more at this point at time axis chart is similar to nifty but without any toxic waste to carry like nifty has to so I am buying axis with stops below 830 on closing basis
NSE:AXISBANK
by Tradegainer
2