AXIS bank previously posted analysis In previous post of axis bank posted that axis bank tries to break channel and today it broke
AXB trade ideas
Chart of the week. Axis Bank.Last week Axis bank gave a breakout above its all time high after very good results and the management commentary. Since May 19 the stock was continuously taking resistance at 826. This week and last week, the stock managed to get closing above it. As this company is fundamentally very good it is the right time to invest into the stock for long term. One can enter 50% at this price and rest 50% can be added around 840-860 levels. The targets are calculated as per Fibonacci. However, these are basic targets. Long term investor can see magic in this stock in future.
CMP - 903 (29/10/22) W
T - 955, 1160, 1370 W
SL - 820 W
View - Medium to Long term (2 years minimum)
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
Marching towards All Time High & fall shown possible strengths.Axis Bank took solid support around 710 ( support treandline from 2015 and it got broke nly 2 out of ~10 instances and those 2 are Mar'20, apr-may'22).
Stated reversing towards resistance trendline around 830 (ATH) with next levels as 770,830 in 4-6 weeks once break above with volumes then rallycango till 1000 or if rejected at resistance then 770, 730 levels are. Key.
Positive side due to the stock did fall around 10% but took support on longest trendline.
Note: This is the educational purpose and not for recommendations at all.
Axis Bank Wave AnalysisAxis Bank was in very complex corrective five wave of expanding triple three pattern which is completing it at 742-730 price levels and from there the wave 3 will start for the target towards 923-995 and 1100 for coming months.See the price patterns and the levels in the chart.
AXISBANK Retracement AXISBANK as per 50 ema crossed above 100 ema and 100 ema crossed above 200 ema so as per technical indicators axisbank in uptrend and as per priceaction it is giving only retracement and it will fly in upcoming days like #icicibank #sbin my opinion to hold the position and stay tuned
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