EquityPandit’s Outlook for Axis Bank for the week  (Mar 26, 2018 – Mar 28, 2018) : 

AXIS BANK:

Axis Bank closed the week on negative note losing around 4.40%.

As we have mentioned last week, that support for the stock lies in the zone of 495 to 500 where trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 470 to 475 where long term Fibonacci levels are lying. During the week the stock manages to hit a low of 496 and close the week around the levels of 500.

Support for the stock lies in the zone of 495 to 500 where trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 465 to 470 where long term Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 515 to 520. Resistance for the stock lies in the zone of 530 to 535 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 555 to 560 from where the stock has broken down and short term moving averages are lying.

Broad range for the stock in the coming week can be 470– 475 on lower side & 520 – 525 on upper side.