EquityPandit’s Outlook for Axis Bank for the week  (Sep 17, 2018 – Sep 21, 2018) : 

AXIS BANK:

Axis Bank closed the week on negative note losing around 1.40%.

As we have mentioned last week, that minor support for the stock lies around 620 to 630. Support for the stock lies in the zone of 580 to 590 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 550 to 560 where Fibonacci levels are lying. During the week the stock manages to hit a low of 630 and close the week around the levels of 636.

Minor support for the stock lies around 620 to 630. Support for the stock lies in the zone of 580 to 590 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 550 to 560 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 650 to 660 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 670 to 680 where life time high for the stock is lying.

Broad range for the stock in the coming week can be 600– 610 on lower side & 660 – 670 on upper side.