Current Price: ₹1,142.40 (+0.29%)
Axis Bank is consolidating near its Golden Retracement Zone (₹1,098 - ₹1,112) after breaking out of its Previous CHoCH Zone (Change of Character). It is also testing a trendline resistance, with potential for a breakout rally toward supply mitigation levels.
Key Levels:
Buy Zone: ₹1,112 - ₹1,143 (Golden Retracement Zone)
Stop Loss: ₹1,098 (on a daily close below the retracement zone)
Target 1: ₹1,280
Target 2: ₹1,303 - ₹1,326 (Supply mitigation zone)
Key Observations:
Golden Retracement Zone: Acts as a strong support for a bounce.
Trendline Breakout: A successful breakout above the resistance line may lead to sustained upward momentum.
Supply Zone: ₹1,303 - ₹1,326 is the next key level to watch for profit booking.
Disclaimer:
This analysis is for educational purposes only and is not financial advice. I am not a SEBI-registered analyst. Please do your own research or consult a financial advisor before making any investment decisions.
Axis Bank is consolidating near its Golden Retracement Zone (₹1,098 - ₹1,112) after breaking out of its Previous CHoCH Zone (Change of Character). It is also testing a trendline resistance, with potential for a breakout rally toward supply mitigation levels.
Key Levels:
Buy Zone: ₹1,112 - ₹1,143 (Golden Retracement Zone)
Stop Loss: ₹1,098 (on a daily close below the retracement zone)
Target 1: ₹1,280
Target 2: ₹1,303 - ₹1,326 (Supply mitigation zone)
Key Observations:
Golden Retracement Zone: Acts as a strong support for a bounce.
Trendline Breakout: A successful breakout above the resistance line may lead to sustained upward momentum.
Supply Zone: ₹1,303 - ₹1,326 is the next key level to watch for profit booking.
Disclaimer:
This analysis is for educational purposes only and is not financial advice. I am not a SEBI-registered analyst. Please do your own research or consult a financial advisor before making any investment decisions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.