EquityPandit’s Outlook for Axis Bank for the week  (Oct 03, 2017 – Oct 06, 2017) :

AXIS BANK:

Axis Bank closed the week on positive note gaining around 0.80%.

As we have mentioned last week, that support for the stock lies in the zone of 495 to 500 where 200 Daily Moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 485 to 490 where the stock has taken multiple support. During the week the index manages to hit a low of 488 and close the week around the levels of 509.

Support for the stock lies in the zone of 495 to 500 where 200 Daily Moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 485 to 490 where the stock has taken multiple support.

Resistance for the stock lies in the zone of 505 to 508 where short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 517 to 520 from where the stock has sold off.

Broad range for the stock in the coming week can be 480– 485 on lower side & 530 – 535 on upper side.