One can long ITC on positional basis as stock is strongly holding above its resistance of 200 zone. Once stock manage to cross previous swing high which was sub 210 level on closing basis then stock can move towards 260 levels.
Stop loss should be placed near 192 levels.
As you can see the daily chart of Axis Bank you can see the bullish flag pattern and it's breakout level above 620.
One can buy Axis Bank above 620 with SL at 590 and Target should be 675-700.
SL on closing basis.
As said in my previous analysis Nifty facing trendline resistance. Short term trend should be sell on rise. Nifty register first weekly close below trendline since March low. Strong indicator of trend reversal. Short Nifty with SL 11500 target 11220-11000-10900
#positional
Hdfc bank currently facing trendline resistance at 1135-1140 level.
Make or break level will come soon.
Keep watching for breakout or breakdown.
Buy above 1140 sl 1120 target 1200
Sell below 1090 sl 1110 target 1050
Buy above 11550 sl 11450 target 11650 11725 11850 12000
Reason Nifty register first time breakdown of rising chennal trendline support. If index strongly bounce back in coming session and able to close above 11550 then uptrend should be continue.
Short near 11450 sl 11550 target 11300 11240 11120 11000
If index fails to close above 11550 then correction should be...
Buy at 23500 sl 23200 target 24500 - 25000
10 week consolidation range breakout level is 23200 so if bnf manages to sustain above said level on weekly closing basis then create long position.
Short below 23100 sl 23300 target 22500- 21800.
Same view if index manage to sustain below 23200 on weekly closing basis then we should consider this as false breakout and...
