Hi All,
Welcome to Strategic Fortune.
In this post, we will see the possible movement analysis for AXIS BANK that can happen on 8-March-2021 and the same week.
Points to consider:
Time-frame for analysis -> 15 Minutes
The down-side small trend line is formed.
There is a good possibility of stock to open gap-up.
If the stock opens gap-up and then it will breakout the small trend line that mentioned in the image below.
Buy Side Trade Analysis:
If stock opens gap-up and crosses/sustain above 740 then it can show the Bullish sign. Hence Buy trade can be taken for below mentioned Targets.
The targets can be : 749/759/764/778/783/795
The targets may not hit directly in a single direction, however the possible retracement can be seen. The mentioned targets can be considered as respective Resistance & Support levels once the latest price is moving in between them.
Once the immediate Targets are met, then the stock can be considered as for Swing trade for remaining targets. However, people should book timely profits and exit the trades as soon as initial targets are met.
Sell Side Trade Analysis:
If stock starts showing retracement from 740/738 levels to below and cross/breaks down and sustain below 735 levels, then it can show Bearish sign. Hence Sell Trade can be taken.
The targets can be : 729/724/718/714/711.
The targets may not hit directly in a single downside direction, however the possible retracement can be seen. The mentioned targets can be considered as respective Resistance & Support levels once the latest price is moving in between them.
Once the immediate Targets are met, then the stock can be considered as for Swing trade for remaining targets. However, people should book timely profits and exit the trades as soon as initial targets are met.
