EquityPandit’s Outlook for Axis Bank for the week (March 16, 2020 – March 20, 2020):

AXIS BANK:

BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS

Stock closed the week on negative note losing –12.04%

Week High: 641.85

Week Low: 461.75

Week Range: 180.10 Points

AXIS Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 528 levels, Minor resistance on the upside is capped around 585 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 461 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 600.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 650 on upside and 450 on downside.

Weekly Pivot Levels: